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“Written by Ford, UAW lobbyists”: Tesla, Toyota fire back on EV tax

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Those buying union-manufactured vehicles are the winners, but not in the eyes of those who are against the tax bill.

Elon Musk’s Tesla stands with Toyota against new tax bill

Automotive companies Tesla and Toyota are at odds with Ford and the United Auto Workers (UAW) Union over a new proposal to award union-made electric vehicles (EV) with a pricey tax incentive. 

The 3.5 trillion dollar bill will benefit those whose vehicles are assembled in UAW represented plants, providing them with a $4,500 tax reduction.

General Motors, Ford and Chrysler’s parent-company Stellantis NV will reap the benefits of the bill, which is set to be taken up by the House Ways and Means Committee on Tuesday.

Under the proposal, some buyers may be eligible for $12,500 in maximum tax credit, which includes $500 for using batteries manufactured in the United States.

Additionally, tax credits will be phased out after car and truck manufactures hit 200,000 in EV sales.

Not good news for everyone

However, Toyota says the plan discriminates against American auto workers who don’t belong to a union and awards wealthy buyers with huge tax breaks. 

Tesla, along with international automakers, are also among the automotive companies that don’t have unions – they too in protest of the bill.

Elon Musk, Tesla Chief Executive took to Twitter to express his concern, adding to growing number of auto manufacturers unimpressed with the proposal.

“This is written by Ford/UAW lobbyists, as they make their electric car in Mexico. Not obvious how this serves American taxpayers.”

His response comes after Electric Vehicle news channel Whole Mars Catalog, asked for the CEO’s thoughts on the “already ridiculous” rule.

“My [jaw] was on the floor when they expanded it to $4,500 for unions and reduced the American-made to only $500,” the news blog tweeted. “They are clearly targeting one company here.”

“American-made should be the top priority! We need to be making cars of the future here, not losing our auto industry to Mexico and China.”

Written by Rebecca Borg

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Money

Leading podcast cuts through finance commentary noise

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With so much financial commentary out there, how do you find clarity?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by host of ‘This Is Money’ Podcast, Glen James. #wyld money #trending

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Money

Will slashing immigration curb the housing crisis?

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The Australian Coalition has revealed its strategy to tackle the housing crisis by reducing migration numbers.

Opposition Leader Peter Dutton’s proposal to cut immigration by a quarter aims to tackle the housing crisis but has been met with skepticism for overlooking deeper structural issues.

Mark Wyld from MW Wealth joins to discuss. #trending #featured #wyld money

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Money

Apple Music’s controversial top 10 albums of all time

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Apple Music has released its highly anticipated “100 Best Albums of All Time” list, with the top 10 rankings causing a bittersweet symphony of destruction for some music lovers.

The list was curated by a panel of experts and based on various factors including cultural impact, critical acclaim, and commercial success, with the aim to celebrate the most influential and timeless albums across genres.

As reported by the official Apple Music Newsroom blog post, the top ten best albums of all time are the following:

10. Lemonade (2016), Beyoncé

9. Nevermind (1991), Nirvana 

8. Back to Black (2006), Amy Winehouse

7. good kid, m.A.A.d city (2012), Kendrick Lamar

6. Songs in the Key of Life (1976), Stevie Wonder

5. Blonde (2016), Frank Ocean

4. Purple Rain (1984), Prince & The Revolution

3. Abbey Road (1969), The Beatles

2. Thriller (1982), Michael Jackson

1. The Miseducation of Lauryn Hill (1998), Lauryn Hill

In other news, Apple recently became the first company to hit a $3 trillion stock market value, before falling just below that milestone, as reported by Reuters.

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