In a fresh clash of titans, U.S. President Donald Trump on Tuesday threatened to slash government subsidies to Tesla CEO Elon Musk's ventures, aiming to save taxpayer dollars as Musk continues to lambast his so-called "big, beautiful bill."
On his social platform, Truth Social, Trump wrote, "Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa." He added that cutting support could halt "Rocket launches, Satellites, or Electric Car Production," saving "a FORTUNE."
The feud escalates as Musk warns that members of Congress backing Trump's bill – which he says hikes the debt ceiling by $5 trillion – face backlash at the polls. "Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth," Musk wrote on X.
Musk also threw his support behind Republican Congressman Thomas Massie of Kentucky, a rare voice opposing the bill in the House. In response, Trump vowed to campaign hard against Massie in the GOP primary, promising "a wonderful American Patriot" as an opponent.
Beyond the political sparring, the legislation threatens to eliminate valuable electric vehicle tax credits – up to $4,000 for a used EV and $7,500 for a new one. JPMorgan Chase estimates Tesla could lose roughly $1.2 billion in credits alone, potentially reshaping the future of U.S. electric car production.
As Musk and Trump continue trading barbs, the battle over subsidies, debt, and the green economy highlights the high stakes of policy decisions that ripple through politics, business, and global markets alike.
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Trump threatens Tesla subsidies as Musk slams 'big, beautiful bill'
cgtn.com
