Trump endorses Elon Musk as a 'wonderful individual,' despite continuing criticism of the 'magnificent infrastructure proposal'
In a series of tweets on his 54th birthday, tech mogul Elon Musk expressed his disapproval of President Donald Trump's spending bill, dubbing it a "massive, outrageous, pork-filled Congressional spending bill" and a "disgusting abomination."
Musk's criticism is primarily focused on the bill's massive price tag and the increase in the debt ceiling, which he considers irresponsible fiscal policy. He strongly criticises the Senate version of the bill for raising the debt ceiling by $5 trillion, describing it as "utter madness."
The tech entrepreneur specifically objects to cuts in green energy tax credits and excise taxes on renewable energy projects included in the bill. Musk labels these provisions as harmful, as they risk destroying millions of American jobs and inflict "immense strategic harm" on the country. This stance is also linked to his business interests, notably Tesla, which could lose significant subsidies if the electric vehicle tax credits are phaseout, potentially impacting the company to the tune of $1.2 billion, according to JPMorgan Chase estimates.
Musk's solar power and energy storage ventures also depend on government incentives, so ending or scaling back these programs might make Tesla's products less competitive and harm the company. Musk has been vocal in publicly shaming members of Congress who support this bill, suggesting that those who campaigned on reducing government spending but voted for this debt increase "should hang their head in shame" and warns they risk losing primary elections next year if he can influence it.
The Senate Republicans' new version of the spending bill, which Senate Budget Committee Chair Lindsey Graham debuted on Friday night, is set to deliver to the president by July 4. Despite Musk's renewed criticism, President Trump praised Musk in an interview with Fox News, calling him a "wonderful guy" and "smart guy."
This latest post from Musk comes in the form of a meme with the caption "Kill Bill." Musk has previously had interactions with Trump, including campaigning together, but their relationship appears to have soured earlier this month.
In an interview on Sunday, Trump called Musk a "wonderful guy" and "smart guy" in response to Musk's criticism. However, the tech entrepreneur remains firm in his stance, warning that Trump's bill, if passed, will lead to the destruction of millions of American jobs and severely damage industries of the future while giving "handouts" to industries of the past.
- Elon Musk, in a critical stance, links the increased debt resulting from President Trump's spending bill to harmful policies for green energy and renewable projects, asserting that such cuts could destroy millions of American jobs and inflict immense strategic harm on the country, particularly affecting his businesses like Tesla.
- Amidst ongoing politics and policy-and-legislation debates, Musk voices his concern over war-and-conflicts of ideas, as he warns that Trump's spending bill, if passed, could jeopardize the future of American industries, while general-news outlets continue to cover the ongoing back-and-forth between the tech tycoon and the President.
