A massive tax and spending package championed by President Donald Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months

Now, the EV tax credit is slated to end September 30, 2025, in the Senate version of the budget bill that is enduring a marathon voting session currently in that chamber. An earlier version contemplated canceling the tax credit 180 days after the signing of the bill for new EVs, and 90 days for used EVs.

Yesterday, Musk once again took to his social media platform to denounce the budget bill, threatening to form a third political party should it pass and reposting content critical of the GOP spending plan.