Donald Trump is now welcoming Elon Musk to a Cabinet role if elected, to which the SpaceX and Tesla CEO responded on X.
“I am willing to serve,” said Musk in a post on X, formerly known as Twitter.
The post depicted Musk behind a podium with the American flag behind him, hinting a role in politics.
Several users on the platform have demonstrated a like for an Elon Musk and Donald Trump political stance.
Recently, the former president was featured in an interview on Musk’s platform where it is estimated at least 1 billion people tuned in.
Republican presidential candidate Donald Trump said on Monday that if elected he would consider ending a $7,500 tax credit for electric-vehicle purchases and that he would be open to naming Tesla CEO Elon Musk to a cabinet or advisory role.
“Tax credits and tax incentives are not generally a very good thing,” Trump told Reuters in an interview after a campaign event in York, Pennsylvania, when asked about the EV credit.
Asked if he would consider naming Musk to an advisory role or cabinet job, Trump said he would.
“He’s a very smart guy. I certainly would, if he would do it, I certainly would. He’s a brilliant guy,” Trump said.
Musk last month publicly endorsed Trump in the U.S. presidential race.
Tesla did not immediately respond to a request for comment, per Reuters.
If elected, Trump could take steps to reverse Treasury Department rules that have made it easier for automakers to take advantage of the $7,500 credit or could ask the U.S. Congress to repeal it entirely.
While president, Trump sought to repeal the EV tax credit which was later expanded by President Joe Biden in 2022.
“I’m not making any final decisions on it,” Trump said of the EV tax credit.
“I’m a big fan of electric cars, but I’m a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along.”
He added that he would rescind the Biden administration rules that will prod automakers to build more EVs and plug-in hybrids to meet stricter emissions standards and said he sees a “much smaller market” for EVs because of cost and battery range issues.
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Also Read: Donald Trump Now Plans To End Social Security Taxes For Retirees
Other Politics News Today
Trump now wants to eliminate income tax, saving people money after, announcing a new strategy to institute a policy on tariffs.
This policy on tariffs would lead to the elimination of the federal income tax, per Yahoo Finance.
Tariffs allow the United States to increase the cost of foreign-made products, particularly those that come from countries that have significantly lower labor and materials costs, or those who allow unfair trade practices.
The effect of a tariff is to level the playing field for domestic companies who keep jobs local and are subject to the labor laws of the United States.
Tariffs are paid to the U.S. government before foreign goods can be brought into the country.
“The additional cost incurred by the foreign manufacturer would then be passed on to the consumer in the form of a higher retail price,” reports Yahoo Finance.
“During Trump’s presidential term, he used tariffs to increase the cost of goods made in China, so that American goods could be priced more competitively.”
The impact of raising costs on tariffs again would mean that prices would rise on all imported goods.
However, Americans would keep more of their hard-earned money if Trump is able to eliminate federal taxes on income.
Less taxes equals more purchasing power, which creates a healthy circulation in our economy.
The increasing odds of a recession in the United States is primarily due to rising layoffs, an increase in bankruptcies, and a decrease in purchasing power.
What are your thoughts on Trump proposing to eliminate income taxes?
Leave your thoughts and opinions below.
Also Read: Donald Trump Now Plans To End Social Security Taxes For Retirees
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