In a move that is likely to stir controversy in the burgeoning electric vehicle (EV) industry, sources close to the incoming administration have indicated plans to eliminate the $7,500 consumer tax credit for EVs.

The tax credit is viewed by the new transition team as an easy target for elimination given the Republican majority in Congress. While proponents argue the incentive is crucial for driving mainstream EV adoption, opponents claim the credits unfairly benefit wealthy consumers.

Interesting... the green machine of subsidies and market distortions gets a first hit.