<ul data-eligibleForWebStory="true"><li>The Republican Party in the US Senate is pushing to remove the IRS clean vehicle tax credit for electric vehicles, potentially eliminating it by the end of September.</li><li>Elon Musk, CEO of Tesla, has expressed opposition to the budget bill, threatening to form a third political party if it passes and reposting content critical of the GOP spending plan.</li><li>The elimination of the tax credit could significantly impact Tesla, as most of its electric vehicles in the US are eligible for the $7,500 credit, making them more expensive if the bill goes through.</li><li>Apart from the tax credit issue, Musk also criticizes the budget bill for being wasteful and expresses concerns about the impact on solar energy and battery storage businesses, vital for Tesla's profitability.</li></ul>

GOP wants EV tax credit gone; it would be a disaster for Tesla

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