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President Joe Biden endorses legislation introduced by U.S. Rep. Dan Kildee (D-MI) that would expand the existing consumer tax credit for electric vehicle and add incentives for vehicles made with union labor, Kildee said Tuesday.
The legislation would expand the existing tax credit to up to $7,500 for another five years, and add incentives for vehicles made with union labor. Most EVs would qualify for a $7,500 tax credit. But union-built EVs assembled in the U.S. would receive an additional $4,500 in credits.
Only $Ford Motor(F.US)$ , $General Motors(GM.US)$ and $Stellantis NV(STLA.US)$ , Chrysler’s parent company, would benefit from the extra incentive, as union workers assemble most of their EVs in U.S. plants.
The proposal effectively leaves other automakers, including $Tesla(TSLA.US)$ , the nation’s main EV manufacturer, at a $4,500 per vehicle disadvantage.
Tesla CEO Elon Musk also criticized the measure, saying at a recent Beverly Hills, Calif., conference that the Biden administration is “controlled by unions.”
How do you feel about this? Is it fair that some of them are getting more benefits?
Source:
Biden endorses EV tax credit bill
Democrats' electric vehicle push sparks intense lobbying fight

$Pfizer(PFE.US)$ on monday pfizer @ 50 then back to 48 then back up again

$Gilat Satellite Networks(GILT.US)$ I still believe as well, just bought 1200 more shares. long hold for me. This will hit $50+ next year or two. 😎🤙
$SoFi Technologies(SOFI.US)$ $Palantir(PLTR.US)$

Happy Monday mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the selected buzzing stocks on moomoo platform based on message volume in the community last week! (Nano caps are excluded.)
Every major index moved lower last week, $Bitcoin(BTC.CC)$ bopped below 50K. Here's the weekly buzzing stock list of last week:
AMC
Message Vol.: ⭐⭐⭐⭐⭐
Share of $AMC Entertainment(AMC.US)$ rallied 23.7% ...

$Coinbase(COIN.US)$ just wait until they add dogecoin, easy $500

$TuSimple(TSP.US)$ hit and run