CoinVoice has recently learned that, according to Jin10, institutions report that by the end of this year, Trump's massive tax bill will largely eliminate tax credits of up to $7,500 for certain Tesla models and other electric vehicle buyers, seven years earlier than originally planned.

JPMorgan analysts stated that this will result in a hit of about $1.2 billion to TSL's annual profits. Since leaving his formal advisory position at the White House last week, Musk has been preventing the president from signing the tax bill, which he called "disgusting." Musk has been lobbying Republican lawmakers— including directly appealing to House Speaker Johnson to retain the electric vehicle tax credit in the legislation.