President Trump said on Twitter Tuesday that he is looking at ending electric vehicle subsidies for General Motors over its decision to idle four plants in the U.S. and cut 15% of its salaried workforce.
Be smart: As Axios' Dan Primack notes, there are no GM-specific electric vehicle subsidies. Instead, there are industrywide federal tax credits of up to $7,500 on EVs purchased in the United States, with aggregate caps of 200,000 vehicles per manufacturer. GM is currently bumping up against its cap, while Tesla has already hit it. Trump also could not end the credits without the help of Congress, which soon will have a Democrat-controlled House.