Elon Musk fumes as Trump tax bill cuts credits for EVs
E
lon Musk slammed the
US Senate
's latest version of President Donald Trump's multi-trillion dollar tax bill Saturday, warning the cuts to electric vehicle and other
clean energy
credits would be "incredibly destructive" to the country.
Musk, the chief executive officer of
Tesla
and SpaceX, posted on X about the bill, which the Senate advanced in a contentious vote late Saturday. Musk recently left Trump's side after working for several months as the head of Trump's so-called Department of Government Efficiency (DOGE).
The bill would destroy millions of US jobs and give "handouts to industries of the past while severely damaging industries of the future," Musk said. The tech billionaire's latest criticism of the package threatens to reawaken his public rift with Trump that began after the world's richest man left his cost-cutting job in the administration. The bill would bring a quicker end to a popular $7,500 consumer tax credit for electric vehicles.
Bill advances in Senate as GOP scrounges for votes
President Donald Trump's $4.5 trillion
tax cut bill
prevailed in a crucial Senate test vote after hours of negotiations, setting up fresh round of deal-making as Republicans seek to convince holdouts to support the bill for final passage.
The vote wrangling continues as the official debate process plays out on the Senate floor. But the real negotiations will be behind closed doors in Senate offices as majority leader John Thune seeks to convince enough of his members to back the bill.bloomberg
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