Daily Caller: Elon Musk Could Lose Tons Of Cash If Trump Cuts His Subsidies
Donald Trump winning the presidential election could be bad news for billionaire Elon Musk’s electric green energy company since it’s unclear what will happen to soon-to-expire subsidies, according to The Wall Street Journal.
Trump’s election, coupled with Republican control of both chambers of Congress, might mean the end of some federal tax subsidies for solar power and electric cars, WSJ suspects in the article.
Currently, green subsidies are set to phase out over time, and Trump could damage Musk’s business ventures if he eliminates or refuses to renew lucrative tax credits.
The Center for Business and Responsible Government (CBRG) is a non-partisan organization dedicated to highlighting cronyism and its effect on American taxpayers and policy. We believe public officials should establish an even playing field for all businesses to compete in the marketplace, not just those special interests who line their pockets.