Hey everybody Rob Mauer here and today we are going to be going through the proposed

legislation that we had mentioned last night.

We now finally have the details on what this new bill is shaping up to look like.

Still can be changes but we'll go through how the current structure looks.

There are potentially huge EV tax credits in here and a lot of components to understand

and there are massive implications for Tesla energy both solar and energy storage as

well.

Before we get into that though the busy week in the market continues Tesla today up

2.2% closing at $842.70 outperforming the NASDAQ up 1.1%.

Both were trading red this morning at some points.

Of course after the first advanced estimate for Q2 GDP was published.

Now again this is not the final estimate that will come in a couple months but the first

estimate here from the US Bureau of Economic Analysis is that GDP declined at an annual

rate of 0.9% in the second quarter.

So possibly two consecutive quarters of declining GDP we have talked before about whether or

not that's a recession technically that gets defined by the National Bureau of Economic

Research.

It's been that way for a long time though it recently seems to become a political hot

button so whatever don't really care about that the political aspect that is but with

a recession I'm not sure exactly how important it is such a binary term.

I think obviously the underlying elements are much more important so GDP wasn't down

as far as it was in Q1 and a lot of people also noting that decreases in private inventory

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