Chevy Volt electric vehicle goes through assembly at the General Motors Detroit Hamtramck assembly plant. Photo: Bill Pugliano via Getty Images

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.

"Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including ... for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) - don’t think that bet is going to pay off. I am here to protect America’s Workers!"
President Trump on Twitter

The big picture: White House economic adviser Larry Kudlow told reporters earlier Tuesday that Trump felt like GM "turned their back on him." Politics is always personal for Trump, and in this instance, GM's move could result in very real policy implications.

Go deeper: Tesla and GM push new EV tax credit

Go deeper

Breaking down the Tesla obsession

Illustration: Sarah Grillo/Axios

Tesla is the company of the moment — the prime exemplar of just about any big and important trend that you might care about.

Why it matters: Almost every reader of finance and business news will have at least one strongly-held opinion about Tesla. What you might not realize is just how widely those opinions range, and the degree to which they map onto much broader views of the world.

Gallup: Party preference swings dramatically in favor of Democrats

Photo: Jim Watson/AFP via Getty Images

Americans' political party preferences have swung sharply from a 2-point Republican advantage in January to an 11-point Democratic advantage in July, according to Gallup's monthly averages of telephone polls in 2020.

The big picture: The dramatic shift is more a product of fewer people identifying as Republican or Republican-leaning (down 8% since January) than gains among those who identify as Democratic or Democratic-leaning (up 5%).

Nancy Pelosi: "I yearn for other Republican presidents"

House Speaker Nancy Pelosi (D-Calif.) called on President Trump Thursday to exercise "the full power" of the Defense Production Act to meet coronavirus equipment needs and accused him of engaging in a "massive dereliction of duty" by ignoring science during the pandemic.

What she's saying: "I yearn for other Republican presidents," Pelosi said at a press conference. "While we may have disagreed on many points, but at least we had a shared commitment to the governance of our country."