Lawmakers would eliminate a $7,500 tax credit for households that buy or lease a new EV, and a $4,000 credit for consumers who purchase a used EV.

An electric vehicle advocacy group on Tuesday urged the U.S. House to revise a bill passed by the Senate that would end the $7,500 tax credit on new electric vehicle sales and leases on September 30,

Yesterday, Musk once again took to his social media platform to denounce the budget bill, threatening to form a third political party should it pass and reposting content critical of the GOP spending plan.