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Elon Musk has issued a stark warning against the rollback of electric vehicle (EV) credits, highlighting their bipartisan origins and the potential consequences for U.S. jobs, innovation, and energy independence.

As Tesla’s CEO, Elon Musk has spoken out about the impact of ending EV tax incentives early on the American workforce, the country’s long-term competitiveness, and the nation’s commitment to sustainability. The proposed Senate bill that accelerates the termination of these credits aims to bring in a significant revenue boost for the government. Despite this, many critics have voiced concerns over the implications of such a move.

The EV tax credit, originally created under the Bush administration, has seen support from both major political parties in Congress and successive administrations. Its purpose was to stimulate energy independence and reduce reliance on imported oil, an aim that garnered widespread bipartisan backing during a period of global energy insecurity.

Musk’s warning centers on the U.S.’s competitive disadvantage if it pulls back from its commitments towards clean energy leadership. Industry experts predict that electric vehicle sales will exceed 20 million units globally in the coming years.

Source: coincentral.com