Trump’s Mega-Bill Clears Senate, Pits the White House Against Elon Musk on Subsidies
2025-07-02 02:02:56
Main Idea
The Senate's approval of a new Republican tax and spending bill has reignited a public feud between President Trump and Elon Musk, with Trump criticizing Musk's reliance on government subsidies and Musk responding by highlighting the national debt.
Key Points
1. President Trump accused Elon Musk of depending heavily on government subsidies to sustain Tesla and SpaceX, suggesting Musk would fail without them.
2. Elon Musk responded by sharing a chart of the U.S. national debt's steep rise, questioning when it would stabilize, without directly addressing the subsidy claims.
3. The Senate approved a new Republican bill that includes eliminating the $7,500 EV tax credit, a key factor in Tesla's early growth.
4. Tesla's shares dropped over 5% in European premarket trading following the escalating feud and concerns about the bill's implications.
5. The dispute highlights tensions over government support for tech companies and the broader economic policies under the new legislation.
Description
The US Senate has passed a new Republican tax and spending bill The bill’s passage has sparked a public feud between President Trump and Elon Musk The conflict centers on the bill’s cuts to clean energy and EV subsidies President Donald Trump has reignited his public feud with tech billionaire Elon Musk, issuing a sharp rebuke over green energy subsidies and the nationwide push for electric vehicles. In a post on X on July 1, Trump claimed that Musk’s success is entirely dependent on government ...
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