Elon Musk says Biden’s EV bill should be canned, US should ‘get rid of all’ government subsidies

WSJ CEO Council
Credit: Wall Street Journal

Tesla CEO Elon Musk said the Biden administration’s $2 trillion spending bill that includes a number of electric vehicle (EV) related incentives should be shelved.

In addition, Musk believes the US should get rid of all government subsidies, including those for the oil and gas industry.

Musk made the comments while speaking at the WSJ CEO Council Summit on Monday.

“Tesla has made basically twice as many electric vehicles as the rest of industry combined, and we don’t need the $7,500 tax credit. I would say, honestly, I would just can this whole bill, don’t pass it, that’s my recommendation.”

The bill, which is expected to be passed before the end of the year, would provide up to $12,500 in tax credits for EVs that are made by unionized workers in the US. Since Tesla workers are not unionized, their vehicles would receive a lesser $7,500 incentive.

Musk said he was also against subsidizing the build out of an EV charging network, saying that gas stations don’t receive subsidies so why should EV charging stations.

He even went a step further, saying the government should “get rid of all subsidies,” including those for the oil and gas industries.

The CEO also covered a variety of other topics during the nearly 40-minute long interview. Musk touched on the highly anticipated Cybertruck, saying it will be “awesome” and could be Tesla’s best vehicle.

You can watch the full interview below.

 

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