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Donald Trump Plans To Tap Elon Musk For Cabinet If Elected

1 month ago
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Donald Trump is reportedly willing to offer the Tesla CEO, Elon Musk a position in his cabinet or advisory team if he is elected president. In an interview with Reuters, Trump highly appreciated Musk’s management at Tesla and his advanced technologies and innovations.

Donald Trump Shows Interest in Endorsing Elon Musk

According to an interview, Donald Trump has said that if he wins the US election, he would like to offer Elon Musk a position in his government. Trump praised Musk for his achievements that he has made in the society, especially in the development of electric vehicles and the space exploration. He said that Musk could be of immense help in his cabinet or as a member of the advisory council provided, of course, Musk is willing to serve in any of these capacities.

At the same time, Trump proposed that he could cancel the $7,500 tax credit for electric vehicle (EV) buyers. He cast doubt on the value of tax credits and other incentives, suggesting that the current rules put in place by the Treasury Department to enable automakers to use the EV credit may be reversed.

Trump has previously attempted to repeal this credit during his presidency, but it was later expanded under President Joe Biden in 2022. Trump emphasized that, despite his reservations about tax credits, he supports a variety of vehicles, including electric, gasoline-powered, and hybrids.

This credit was targeted for elimination by Trump during his time in office but was later enhanced under President Joe Biden in 2022. Trump also noted that while he has his concerns about tax credits, he likes all kinds of cars, whether electric, gasoline, or hybrid.

Trump Criticizes Biden’s Vehicle Policies and Comments on Google

Concurrently, Trump also voiced his opposition to the Biden administration’s push for stricter emissions standards, which require automakers to produce more EVs and plug-in hybrids. Trump suggested that, if re-elected, he would roll back these regulations, advocating for a more balanced approach that does not exclusively favor electric vehicles.

In addition, he criticized the Biden administration’s attempt to tighten emissions standards, which mandate automakers to produce more electric and plug-in hybrid vehicles. Trump also said if he is to be reelected, he would deregulate these policies and believes that there should be a middle ground in this issue where electric vehicles do not dominate the market.

However, Trump refrained from specifying what penalties Google should face, and did not explicitly call for the company to be broken up.

Gary Gensler Rumored for Treasury Department

However, there are rumors that if Kamala Harris becomes the president, she might choose Gary Gensler who is the SEC Chair as the Treasury Secretary.

Gensler’s time at the SEC has also been characterized by a number of enforcement actions against cryptocurrency firms, which has led to his being dubbed a tough crypto regulator.

However, the news about Gensler to be appointed has led to discussions among the crypto industry leaders. Caitlin Long, the CEO of Custodia Bank, noted that several Democratic sources have dismissed the rumor as false, and some have suggested that Gensler himself has been the one to spread the rumor to increase confusion.

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Kelvin Munene Murithi

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/breaking-donald-trump-plans-to-tap-elon-musk-for-cabinet-if-elected/