Tesla: Driving America Forward Act Could Hurt Current Sales

About: Tesla, Inc. (TSLA), Includes: GM
by: Donn Bailey
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Donn Bailey
Long-term horizon, portfolio strategy, growth at reasonable price, contrarian

Four Senators and a Congressman have joined forces to introduce new legislation to extend the Plug-In Electric Vehicle tax credits indefinitely.

The biggest winners are Tesla and General Motors who are already in the phase-out period of the existing legislation.

What no one seems to be looking at is the huge impact this bill could have on the U.S. Treasury, which could exceed one hundred billion dollars.

Investors and employees of Tesla, Inc. (NASDAQ:TSLA) and to a lesser extent, General Motors (NYSE:GM), got excited this week with the introduction of legislation to extend the federal tax credit