Tesla Shares Dive as Republicans Move to Abolish $4 Billion Green Tax Breaks

Watts Up With That?

Tesla Share Price (Source Google Finance) Tesla Share Price (Source Google Finance)

Guest essay by Eric Worrall

Tesla share prices have crashed in the wake of news that President Trump’s Republican administration is introducing a bill to abolish Federal tax credits for electric cars worth $7,500 per vehicle.

Tesla share crash amid Republican bid to kill off electric car tax break

Didn’t help that the automaker’s financial results also sucked

By Kieren McCarthy in San Francisco 2 Nov 2017 at 18:47

Tesla’s share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.

The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.

Its share price fell more than seven per cent to about $296 apiece from Wednesday’s…

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