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India Today
18 hours ago
- Business
- India Today
Trump says relationship with Musk is ‘over,' warns against funding democrats
US President Donald Trump on Saturday admitted that his relationship with Elon Musk, once a key ally and donor, is likely over. 'I would assume so, yeah,' he said in a telephonic interview with NBC News. Trump also warned of 'serious consequences' if the tech mogul provides financial support to Democratic candidates challenging Republicans who back the administration's sweeping tax-cut and spending bill. 'If he does, he'll have to pay the consequences,' Trump added, though he declined to specify what those consequences might rift between the two prominent figures erupted publicly earlier this week, with Musk criticizing the "One Big Beautiful Bill Act" on X (formerly Twitter), calling it a 'disgusting abomination' and warning that Trump's tariff policies could trigger a even posted, then deleted, a post on X supporting Trump's impeachment, as well as a reference to Trump's past ties to Jeffrey Epstein, an allegation Trump dismissed as 'old news.' Trump responded harshly, accusing Musk of being 'disrespectful to the office of the President' and expressing disappointment in the billionaire, who has openly attacked the president's signature tax and GOP-Led spending bill, labelling it bloated and unfair to clean energy industriesMusk, a major donor during Trump's 2024 campaign, was appointed head of the Department of Government Efficiency (DOGE), where he led deep cuts to federal said he is confident the bill will pass before the July 4th deadline. 'The Republican Party has never been more united,' he claimed, adding that Musk's criticisms have only galvanized support for the also floated the idea of terminating Musk's federal contracts, particularly those involving SpaceX, but said he hadn't given it further thought. Allies like Steve Bannon have urged investigations into Musk's business dealings, but Trump said it's not something he's considering now.'I think it's a shame he's so depressed and heartbroken,' Trump said. 'But in a way, Elon helped highlight how good this bill really is.'Tune InMust Watch
Newsweek
09-05-2025
- Business
- Newsweek
Millions of People Could Be Able to Pay Their Taxes in Gold and Silver
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Missouri lawmakers advanced an amendment this week that would allow residents to pay taxes, as well as other goods, using silver and gold. Why It Matters The bill in Republican-leaning Missouri would make silver and gold a legal tender in the states. This would give its more than six million residents a new option to pay for goods and taxes if they so choose as several other states consider similar measures. What to Know Missouri's state legislature advanced an amendment legalizing the use of silver and gold to pay for goods and taxes as part of a larger finance bill this week, reported The Kansas City Star. The legislation will require the state government to accept electronic versions of gold and silver as a means to pay taxes, but private businesses do not have to accept it as payment, the newspaper reported, noting that a previous version of the bill that would have required businesses to accept it sparked business pushback from the state's business community. Gold bars are inspected at the ABC Refinery in Sydney, Australia on August 5, 2020. Gold bars are inspected at the ABC Refinery in Sydney, Australia on August 5, 2020. DAVID GRAY/AFP via Getty Images Newsweek reached out to Missouri Governor Mike Kehoe and the Department of Revenue for comment via email. GOP-Led States Consider Similar Bills Missouri isn't the only state that has eyed legislation making silver and gold legal tenders. Earlier in 2025, Utah lawmakers passed a bill that would set up a "precious metals-backed electronic payment platform," according to the office of State Treasurer Marlo Oaks. That bill, however, was vetoed by Governor Spencer Cox, a Republican. Similar legislation has also been proposed, but not passed, in Louisiana, according to The Shreveport Times. In Florida, the state Senate passed a bill back to the House of Representatives that would establish silver and gold as a legal tender, reported Florida Politics. Governor Ron DeSantis, a Republican, has indicated support for the bill, the publication reported. What People Are Saying Representative Bill Hardwick, a Republican, told The Star: "The goal is about restoring economic and political freedom back to everyday Missourians." State Representative Kemp Strickler, a Democrat, told The Star: "Assuming it gets signed, we're in the 'how do we implement' stage." State Senator John Rizzo, a Democrat, said in 2023, per the newspaper: "So when I go to a gas station and buy a Coke, a 20 ounce Coke, and I'd say, you know, here's my gold... Are they gonna give me back money in gold?" State Senator Bill Eigel, a Republican, told Missourinet: "You know, the mistreatment of the U.S. dollar by Democrat Joe Biden up in Washington, D.C. makes the urgency of passing a bill like the golds and silver bill even more pressing." What Happens Next The bill goes to the desk of Kehoe, a Republican, who will decide whether or not to allow the bill to become law. He hasn't said either way how he is leaning on the bill.
