Elon Musk has expressed strong opposition to recent legislative moves that threaten EV incentives while maintaining support for fossil fuel subsidies. The proposed Senate measure would eliminate EPA fines on carmakers for exceeding emissions limits, allowing them to cut costs by removing emissions equipment. This change could lead to older, more polluting powertrains returning, posing a financial threat to Tesla, which relies on carbon credits that may diminish without competitor incentives. Additionally, the GOP's challenges to California's emission standards could further impact Tesla's economic viability in the market.
Tesla may well be the biggest loser here, as the bill removes incentives for other automakers to purchase carbon credits, increasingly important in keeping the company's books out of the red.
The GOP is also attacking California's ability to set its own emissions standards, which would remove another major source of emissions credits for Tesla.
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