Yesterday all Solar stocks crashed with the Sunrun registering a collapse of 40%. This was due to Senate releasing a bill to cut off Solar tax credits. Now we have confirmation that the same Senate is also submitting a similar tax credit cut for EVs, what do we think will happen with Tesla's share prices ? Everyone has heard Elon Musk say that Tesla is not a car company. But the truth is, more than 90% of their revenue is from sales of EV cars.

Senate Republican Bill Would End $7,500 EV Tax Credit 180 Days After Approval

Senate Republican bill would end $7,500 EV tax credit 180 days after approvalWASHINGTON, June 16 - Senate Republicans on Monday proposed a tax and budget bill that would end the $7,500 tax credit on new electric vehicles 180 days after the measure is signed into law, and it would end a $4,000 used-vehicle EV tax credit 90 days after the bill's approval.The House of Representatives version would allow the $7,500 new-EV tax credit to continue through the end of 2025, and through the end of 2026 for automakers that have not yet sold 200,000 EVs. The Republican Senate Finance Committee bill would exempt interest paid on auto loans from taxes for new cars made in the United States.
Senate Republican Bill Would End $7,500 EV Tax Credit 180 Days After Approval
# Solar Stocks Plunge: How Will Tax Credit Phase-out Impact the Sector?

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