logo
Biden bites back over alleged cover up of his 'decline'

Biden bites back over alleged cover up of his 'decline'

Donald Trump has directed his administration to investigate Joe Biden's actions as president, alleging aides masked his predecessor's 'cognitive decline' and casting doubts on the legitimacy of his use of an autopen to sign documents.
The order marked a significant escalation in Trump's targeting of political adversaries and could lay the groundwork for arguments by the Republican that a range of Biden's actions as president were invalid.
Biden responded in a statement on Wednesday night: "Let me be clear: I made the decisions during my presidency. I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn't is ridiculous and false."
The Justice Department under Democratic and Republican administrations has recognised the use of an autopen to sign legislation and issue pardons for decades, Trump presented no evidence that Biden was unaware of the actions taken in his name, and the president's absolute pardon power is enshrined in the US Constitution.
"This conspiracy marks one of the most dangerous and concerning scandals in American history," Trump wrote in a memo. "The American public was purposefully shielded from discovering who wielded the executive power, all while Biden's signature was deployed across thousands of documents to effect radical policy shifts."
Trump directed Attorney General Pam Bondi and White House counsel David Warrington to handle the investigation. Representatives for Biden did not immediately respond to a request for comment.
It's unclear how far Trump will push this effort, which would face certain legal challenges. But it reflects his fixation on Biden, who defeated him in 2020, an election that Trump never conceded and continues to falsely claim was rigged against him.
Biden issued pardons for his two brothers and his sister shortly before leaving office, hoping to shield them from potential prosecution under Trump, who had promised retribution during last year's campaign. Other pardon recipients included members of a congressional committee that investigated the January 6, 2021, riot at the US Capitol.
House Oversight Chairman James Comer of Kentucky, a Republican, requested transcribed interviews with five Biden aides, alleging they had participated in a "cover-up" that amounted to "one of the greatest scandals in our nation's history."
"These five former senior advisers were eyewitnesses to President Biden's condition and operations within the Biden White House," Comer said in a statement. "They must appear before the House Oversight Committee and provide truthful answers about President Biden's cognitive state and who was calling the shots."
Democrats have dismissed the effort as a distraction.
Comer cited the book "Original Sin" by CNN's Jake Tapper and Axios' Alex Thompson, which details concerns and debates inside the White House and Democratic Party over Biden's mental state and age.
In the book, Tapper and Thompson wrote, "Five people were running the country, and Joe Biden was at best a senior member of the board."
Biden and members of his family have vigorously denied the book's claims.
"This book is political fairy smut for the permanent, professional chattering class," said Naomi Biden, the former president's granddaughter.
Biden withdrew from the presidential race last summer after a debate against Trump in which he appeared to lose his train of thought multiple times, muttered inaudible answers and misnamed different government programs.
He was replaced on the ticket by Kamala Harris, who lost the election to Trump.
Donald Trump has directed his administration to investigate Joe Biden's actions as president, alleging aides masked his predecessor's 'cognitive decline' and casting doubts on the legitimacy of his use of an autopen to sign documents.
The order marked a significant escalation in Trump's targeting of political adversaries and could lay the groundwork for arguments by the Republican that a range of Biden's actions as president were invalid.
Biden responded in a statement on Wednesday night: "Let me be clear: I made the decisions during my presidency. I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn't is ridiculous and false."
The Justice Department under Democratic and Republican administrations has recognised the use of an autopen to sign legislation and issue pardons for decades, Trump presented no evidence that Biden was unaware of the actions taken in his name, and the president's absolute pardon power is enshrined in the US Constitution.
"This conspiracy marks one of the most dangerous and concerning scandals in American history," Trump wrote in a memo. "The American public was purposefully shielded from discovering who wielded the executive power, all while Biden's signature was deployed across thousands of documents to effect radical policy shifts."
Trump directed Attorney General Pam Bondi and White House counsel David Warrington to handle the investigation. Representatives for Biden did not immediately respond to a request for comment.
It's unclear how far Trump will push this effort, which would face certain legal challenges. But it reflects his fixation on Biden, who defeated him in 2020, an election that Trump never conceded and continues to falsely claim was rigged against him.
Biden issued pardons for his two brothers and his sister shortly before leaving office, hoping to shield them from potential prosecution under Trump, who had promised retribution during last year's campaign. Other pardon recipients included members of a congressional committee that investigated the January 6, 2021, riot at the US Capitol.
House Oversight Chairman James Comer of Kentucky, a Republican, requested transcribed interviews with five Biden aides, alleging they had participated in a "cover-up" that amounted to "one of the greatest scandals in our nation's history."
"These five former senior advisers were eyewitnesses to President Biden's condition and operations within the Biden White House," Comer said in a statement. "They must appear before the House Oversight Committee and provide truthful answers about President Biden's cognitive state and who was calling the shots."
Democrats have dismissed the effort as a distraction.
Comer cited the book "Original Sin" by CNN's Jake Tapper and Axios' Alex Thompson, which details concerns and debates inside the White House and Democratic Party over Biden's mental state and age.
In the book, Tapper and Thompson wrote, "Five people were running the country, and Joe Biden was at best a senior member of the board."
Biden and members of his family have vigorously denied the book's claims.
"This book is political fairy smut for the permanent, professional chattering class," said Naomi Biden, the former president's granddaughter.
Biden withdrew from the presidential race last summer after a debate against Trump in which he appeared to lose his train of thought multiple times, muttered inaudible answers and misnamed different government programs.
He was replaced on the ticket by Kamala Harris, who lost the election to Trump.
Donald Trump has directed his administration to investigate Joe Biden's actions as president, alleging aides masked his predecessor's 'cognitive decline' and casting doubts on the legitimacy of his use of an autopen to sign documents.
The order marked a significant escalation in Trump's targeting of political adversaries and could lay the groundwork for arguments by the Republican that a range of Biden's actions as president were invalid.
Biden responded in a statement on Wednesday night: "Let me be clear: I made the decisions during my presidency. I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn't is ridiculous and false."
The Justice Department under Democratic and Republican administrations has recognised the use of an autopen to sign legislation and issue pardons for decades, Trump presented no evidence that Biden was unaware of the actions taken in his name, and the president's absolute pardon power is enshrined in the US Constitution.
"This conspiracy marks one of the most dangerous and concerning scandals in American history," Trump wrote in a memo. "The American public was purposefully shielded from discovering who wielded the executive power, all while Biden's signature was deployed across thousands of documents to effect radical policy shifts."
Trump directed Attorney General Pam Bondi and White House counsel David Warrington to handle the investigation. Representatives for Biden did not immediately respond to a request for comment.
It's unclear how far Trump will push this effort, which would face certain legal challenges. But it reflects his fixation on Biden, who defeated him in 2020, an election that Trump never conceded and continues to falsely claim was rigged against him.
Biden issued pardons for his two brothers and his sister shortly before leaving office, hoping to shield them from potential prosecution under Trump, who had promised retribution during last year's campaign. Other pardon recipients included members of a congressional committee that investigated the January 6, 2021, riot at the US Capitol.
House Oversight Chairman James Comer of Kentucky, a Republican, requested transcribed interviews with five Biden aides, alleging they had participated in a "cover-up" that amounted to "one of the greatest scandals in our nation's history."
"These five former senior advisers were eyewitnesses to President Biden's condition and operations within the Biden White House," Comer said in a statement. "They must appear before the House Oversight Committee and provide truthful answers about President Biden's cognitive state and who was calling the shots."
Democrats have dismissed the effort as a distraction.
Comer cited the book "Original Sin" by CNN's Jake Tapper and Axios' Alex Thompson, which details concerns and debates inside the White House and Democratic Party over Biden's mental state and age.
In the book, Tapper and Thompson wrote, "Five people were running the country, and Joe Biden was at best a senior member of the board."
Biden and members of his family have vigorously denied the book's claims.
"This book is political fairy smut for the permanent, professional chattering class," said Naomi Biden, the former president's granddaughter.
Biden withdrew from the presidential race last summer after a debate against Trump in which he appeared to lose his train of thought multiple times, muttered inaudible answers and misnamed different government programs.
He was replaced on the ticket by Kamala Harris, who lost the election to Trump.
Donald Trump has directed his administration to investigate Joe Biden's actions as president, alleging aides masked his predecessor's 'cognitive decline' and casting doubts on the legitimacy of his use of an autopen to sign documents.
The order marked a significant escalation in Trump's targeting of political adversaries and could lay the groundwork for arguments by the Republican that a range of Biden's actions as president were invalid.
Biden responded in a statement on Wednesday night: "Let me be clear: I made the decisions during my presidency. I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn't is ridiculous and false."
The Justice Department under Democratic and Republican administrations has recognised the use of an autopen to sign legislation and issue pardons for decades, Trump presented no evidence that Biden was unaware of the actions taken in his name, and the president's absolute pardon power is enshrined in the US Constitution.
"This conspiracy marks one of the most dangerous and concerning scandals in American history," Trump wrote in a memo. "The American public was purposefully shielded from discovering who wielded the executive power, all while Biden's signature was deployed across thousands of documents to effect radical policy shifts."
Trump directed Attorney General Pam Bondi and White House counsel David Warrington to handle the investigation. Representatives for Biden did not immediately respond to a request for comment.
It's unclear how far Trump will push this effort, which would face certain legal challenges. But it reflects his fixation on Biden, who defeated him in 2020, an election that Trump never conceded and continues to falsely claim was rigged against him.
Biden issued pardons for his two brothers and his sister shortly before leaving office, hoping to shield them from potential prosecution under Trump, who had promised retribution during last year's campaign. Other pardon recipients included members of a congressional committee that investigated the January 6, 2021, riot at the US Capitol.
House Oversight Chairman James Comer of Kentucky, a Republican, requested transcribed interviews with five Biden aides, alleging they had participated in a "cover-up" that amounted to "one of the greatest scandals in our nation's history."
"These five former senior advisers were eyewitnesses to President Biden's condition and operations within the Biden White House," Comer said in a statement. "They must appear before the House Oversight Committee and provide truthful answers about President Biden's cognitive state and who was calling the shots."
Democrats have dismissed the effort as a distraction.
Comer cited the book "Original Sin" by CNN's Jake Tapper and Axios' Alex Thompson, which details concerns and debates inside the White House and Democratic Party over Biden's mental state and age.
In the book, Tapper and Thompson wrote, "Five people were running the country, and Joe Biden was at best a senior member of the board."
Biden and members of his family have vigorously denied the book's claims.
"This book is political fairy smut for the permanent, professional chattering class," said Naomi Biden, the former president's granddaughter.
Biden withdrew from the presidential race last summer after a debate against Trump in which he appeared to lose his train of thought multiple times, muttered inaudible answers and misnamed different government programs.
He was replaced on the ticket by Kamala Harris, who lost the election to Trump.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What are Donald Trump's alleged links to Jeffrey Epstein?
What are Donald Trump's alleged links to Jeffrey Epstein?

News.com.au

time2 hours ago

  • News.com.au

What are Donald Trump's alleged links to Jeffrey Epstein?

The uneasy history between Donald Trump and Jeffrey Epstein is back in the spotlight after Elon Musk threw fuel on his feud with the US President by suggesting he is 'in the Epstein files'. Musk's bombshell claim was littered among a stream of erratic tweets attempting to discredit Trump, as the two former allies locked horns in one of the more embarrassing online skirmishes seen this year. '@realDonaldTrump is in the Epstein files. That is the real reason they have not been made public,' Musk wrote. 'Have a nice day, DJT!' No evidence has been produced by Musk to support the allegation. There is no suggestion that Donald Trump was involved in Epstein's crimes. What is known, however, is that Trump and Epstein were photographed together on multiple occasions throughout the 1990s and early 2000s, and appeared to move in the same social circles during that time. One video shows Trump welcoming Epstein at a party with a throng football cheerleaders attending in 1992. Court documents also show Trump flew on Epstein's private jet several times, mostly between Florida and New York. A 2002 quote from Trump was unearthed during the Ghislaine Maxwell case, where the billionaire was heard describing Epstein as a 'terrific guy'. 'It is even said that he likes beautiful women as much as I do, and many of them are on the younger side,' Trump said at the time. Trump then distanced himself from Epstein, reportedly barring him from Mar-a-Lago in 2004 after Epstein allegedly attempted to recruit a staff member. The two men reportedly fell out over competing bids for real estate in Florida. Attorney-General Pam Bondi has said the FBI is reviewing tens of thousands of Epstein-related documents, with more expected to be made public soon. Deputy FBI Director Dan Bongino echoed that on Fox News this week, saying additional files will be released after redactions. Trouble in paradise Musk's swipe comes amid growing hostility over Trump's proposed economic policies. The president accused Musk, who was very recently directing Trump's Department of Government Efficiency, of opposing his plans to cut EV subsidies and raise the federal debt ceiling. Musk responded by saying Trump's administration should 'go ahead, make my day' and cut SpaceX contracts. Musk has repeatedly mentioned the 'Epstein list' in recent months, a vague term often invoked online referring to sealed court documents related to Epstein's criminal activities. While some Epstein files have been released, most remain sealed to 'protect ongoing investigations' and victim privacy. The public record reflects no criminal accusations against Trump in connection to Epstein, and his past association with the financier is not unique among high-profile businessmen of the era. But Musk's sudden 180 on the US President has raised further questions. How did the world's richest man go from dancing around at campaigns, claiming civilisation would collapse if Trump lost the election, to accusing him of being linked to Epstein? Suspicions were multiplied when Musk arrived for a news conference at the Oval Office with a black eye and a black DOGE cap. The Tesla boss told the media it had occurred while playing rough with his youngest child. Trump later claimed Musk went 'crazy' when he learned an electric vehicle 'mandate' was being scrapped. 'Elon was 'wearing thin',' Trump said, declaring he had booted Musk from the White House. 'I asked him to leave, I took away his [electric vehicle] mandate that forced everyone to buy electric cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY! 'The easiest way to save money in our budget, billions and billions of dollars, is to terminate Elon's government subsidies and contracts. 'I was always surprised that Biden didn't do it!' The Epstein files In February, a personal address book of Jeffrey Epstein's was released by Trump's Justice Department, which included a new list of celebrities and politicians whom the pedophile financier had in his phone. Among the famous names released by the Department of Justice: Rolling Stones frontman Mick Jagger, Michael Jackson, actor Alec Baldwin, Ethel Kennedy — the mother of Robert F. Kennedy Jr., supermodel Naomi Campbell and rocker Courtney Love. Thursday's unveiling was comprised of over 100 pages including a contact list that belonged to the convicted pedophile financier. The list is not 'a client list,' but includes names of people on Epstein's vast contact list. While the list of names were revealed, their addresses and contact information were redacted. The vast majority of names on the list — if not all of them — had been previously reported in the years of lawsuits and document leaks in the case. The US Attorney-General claimed the FBI has withheld 'thousands of pages' of critical documents relating to Epstein, demanding the bureau provide 'full and complete' access. In a fiery letter to FBI Director Kash Patel, Attorney-General Pam Bondi said she had only received 'approximately 200 pages of documents' which consisted of flight logs, contact lists and victim's names related to Epstein, despite requesting access to the 'full' files. 'I repeatedly questioned whether this was the full set of documents responsive to my request and was repeatedly assured by the FBI that we had received the full set of documents,' Ms Bondi wrote in the letter. 'Late yesterday, I learned from a source that the FBI Field Office in New York was in possession of thousands of pages of documents related to the investigation and indictment of Epstein.'

Donald Trump says Elon Musk ‘went crazy' over US EV subsidy cuts
Donald Trump says Elon Musk ‘went crazy' over US EV subsidy cuts

The Advertiser

time3 hours ago

  • The Advertiser

Donald Trump says Elon Musk ‘went crazy' over US EV subsidy cuts

The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store