Trump’s Mega-Bill Clears Senate, Pits the White House Against Elon Musk on Subsidies

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.