An all-but-doomed tax credit highlights just how much Elon Musk’s biggest business has to lose under President Donald Trump.

Trump’s massive tax bill would largely eliminate a credit worth as much as $7,500 for buyers of some Tesla Inc. models and other electric vehicles by the end of this year, seven years ahead of schedule. That would translate to a roughly $1.2 billion hit to Tesla’s full-year profit, according to JPMorgan analysts.

After leaving his formal advisory role in the White House last week, Musk, Tesla’s chief executive officer, has been on a mission to block the president’s signature tax bill that he described as a “disgusting abomination.” The world’s richest person has been lobbying Republican lawmakers — including making a direct appeal to House Speaker Mike Johnson — to

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