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Yahoo
3 days ago
- Automotive
- Yahoo
TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week's fallout
The fallout between Elon Musk and President Donald Trump is an evolving situation marked by a public blowup on Thursday, but their relationship ties back to Trump's first term and even earlier. A November 2016 CNBC interview with the Tesla CEO, who's now the richest man in the world, took a critical tone of the now president just days before he was elected president in an upset that signified the strength of the populist movement. "Honestly, I think Hillary's economic policies and her environmental policies particularly are the right ones, you know, but yeah. Also, I don't think this is the finest moment in our democracy at all," Musk said. "Well, I feel a bit stronger that probably he's not the right guy. He just doesn't seem to have the sort of character that reflects well on the United States," he later added in the interview. 'Kill Bill': Elon Musk's Conservative Evolution Puts Him At Odds With Trump On Key Legislation During Trump's first term, Musk was part of some of his economic advisory councils, which often includes CEOs, but ultimately left his post because he disagreed with the president's move to exit the Paris Climate Accords. Read On The Fox News App "Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world," Musk posted at the time. The two continued to have an on-and-off relationship, but there were some positive signs in May 2020. "Elon Musk, congratulations. Congratulations, Elon. Thanks, Elon. For Elon and 8,000 SpaceX employees, today is the fulfillment of a dream almost two decades in the making," Trump said at the Kennedy Space Center in May 2020. And at the SpaceX Demo-2 launch, Trump said he and Musk communicate regularly. "Well, I won't get into it. But, yeah — but I speak to him all the time. Great guy. He's one of our great brains. We like great brains. And Elon has done a fantastic job," he said. Elon Musk's Net Worth Plummets By $34B Amid Escalating Feud With President Trump Fast forward to 2022, when Musk purchased Twitter and renamed it X, and brought back Trump's account that November, after it was suspended after the events of Jan. 6, 2021. In 2022, Musk also announced that he would vote Republican, but indicated he would back Florida Gov. Ron DeSantis if he opted to seek the nomination. DeSantis launched his campaign on X in a "space," a virtual public event forum, with Musk, who also reportedly significantly financially backed the Florida governor, according to The Wall Street Journal. However, a major turning point was in July 2024, after the assassination attempt of Trump at a rally in Butler, Penn. "I fully endorse President Trump and hope for his rapid recovery," Musk posted. Musk then campaigned for the president, including a famous moment when he was jumping on stage at his comeback rally in Butler. Would Donald Trump Have Won The 2024 Presidential Election Without Elon Musk's Help? "I want to say what an honor it is to be here and, you know, the true test of someone's character is how they behave under fire, right?" Musk said at the rally. "And we had one president who couldn't climb a flight of stairs and another who was fist pumping after getting shot." "This is no ordinary election," the tech CEO continued. "The other side wants to take away your freedom of speech." "Just be a pest to everyone," he added. "You know, people on the street everywhere: Vote, vote, vote!" The tech billionaire spent roughly $300 million through America PAC to boost swing state voter efforts, including Pennsylvania. By the time the presidential election rolled around, Trump and Musk appeared to be close friends as the Tesla CEO was with Trump in Mar-a-Lago on election night. Over the next few days, Musk remained in Florida and was reportedly advising Trump on appointments and policy as the transition to a new administration kicked off. A week later, shortly before Musk and the new president appeared at a SpaceX launch together in Texas, Trump announced that Musk and tech entrepreneur Vivek Ramaswamy would be heading up the Department of Government Efficiency in an effort to rid the government of waste, fraud, and abuse. Trump described the pair as "two wonderful Americans' and although Ramaswamy left that post in January and is now running for governor in Ohio, Musk stayed on and quickly became the face of an agency that made him the main target of attacks from Democrats pushing back on spending cuts that they argued were too drastic. Protests erupted nationwide against Musk and DOGE including violent outbursts at his Tesla dealerships that tanked the company's stock and were labeled as acts of "domestic terrorism" by the Justice Department. Flashback: Top Five Wildest Moments From Elon Musk's Doge Tenure As It Comes To An End During the first few months of the year, Musk and Trump were spotted together at several viral events including a UFC fight, an Oval Office meeting where Musk's son "Little X" stole the show, and a cabinet meeting in late February where Musk was the main focus. In March, Trump hosted Elon at a Tesla showcase in front of the White House amid a dip in Tesla stock where the president told reporters he was purchasing a Tesla while touting the company. As Musk's time at DOGE began to wind down, his employee classification allowed him to serve for 130 days, the newly formed agency had become the poster child of anti-Trump sentiment from Democrats who consistently attacked the $175 billion in spending cuts that DOGE estimated it delivered. Signs of fracture in the relationship began showing in late May when Musk took a public shot at Trump's "big beautiful bill" as it made its way through Congress. "I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing," Musk said. Two days later, Musk announced his official departure from DOGE. "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending," Musk said, adding that the effects of DOGE "will only strengthen over time as it becomes a way of life throughout the government." DOGE, which fell short of Musk's initial goal of slashing $1 trillion in spending which Musk said he still remains optimistic will happen in the future, will continue its work without Musk, who said, "I look forward to continuing to be a friend and adviser to the president." That optimistic tone shifted drastically on June 3 when Musk took to X, the platform he owns, and blasted the budget reconciliation bill calling it "a disgusting abomination" and criticizing the Republicans who voted for it. "KILL THE BILL," Musk said the next day. A day after that, on Thursday, the feud hit a fever pitch. While speaking with reporters in the Oval Office, Trump said that he was "very disappointed" by Musk's vocal criticisms of the bill. The president claimed that Musk knew what was in the bill and "had no problem" with it until the EV incentives had to be cut. On X, Musk called that assessment "false." Trump turned to social media to criticize Musk, who he appointed to find ways to cut $2 trillion after forming the Department of Government Efficiency (DOGE). "Elon 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!" Trump said in one post. In another post, Trump said, "I don't mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It's a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given." "If this Bill doesn't pass, there will be a 68% tax increase, and things far worse than that. I didn't create this mess, I'm just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!" At one point, Musk referenced late pedophile Jeffrey Epstein in relation to Trump as part of the larger tirade in a comment that several Republicans told Fox News Digital went "too far." Other posts from Musk included a claim that Trump would not have won the election without his help while accusing Trump of "ingratitude." In another post, Musk suggested that Trump should be impeached and replaced by Vice President Vance. It is unclear if a resolution to the feud is coming in the next few days. Fox News Digital reported on Friday morning that Musk wants to speak to Trump and that White House aides could possibly broker a meeting. Trump told Fox News on Friday that he isn't interested in talking to Musk, adding that "Elon's totally lost it." Trump also said to Fox News' Bret Baier that he isn't worried about Musk's suggestion to form a new political party, citing favorable polls and strong support from Republicans on Capitol article source: TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week's fallout
Associated Press
03-06-2025
- Business
- Associated Press
Opioid settlement plan allows millions to be spent on purposes other than the public health crisis
In the fallout of over 9,000 Mississippians dying of overdoses since 2000, lawyers and lawmakers have set up a plan to distribute the hundreds of millions of dollars from corporations that catalyzed the crisis. But public health advocates and Mississippians closest to the public health catastrophe worry the setup could enable these dollars to be spent on purposes other than ending the overdose epidemic. Mississippi is expected to receive $370 million from pharmaceutical companies that profited while people struggled with addiction. That payout is set to be split between the state and local governments, with 85%, or about $315 million, being controlled by the Legislature. For years after the state attorney general's office helped finalize the first settlements in 2021, it was unclear how the state would distribute its share and how much would be used to prevent the crisis from persisting. State senators and representatives took a major step toward answering these questions earlier this year. They nearly unanimously passed Senate Bill 2767, a law that outlines a general framework for how about $259 million of the funds will be distributed. A 15-person advisory council — made up of representatives for state government agencies, elected officials and law enforcement officials — will develop a grant application process for organizations focused on addressing the opioid addiction crisis. After evaluating the applications and making a list of which grants should be funded, the Legislature will decide whether to approve or deny each of the council's recommendations. The state lawmakers can spend the remaining $56 million they control for any purpose — related or unrelated to addressing addiction. House Speaker Jason White and Lt. Gov. Delbert Hosemann, who wield massive power over lawmakers and how state funds are spent, did not respond to questions from Mississippi Today about their priorities for the funds. Sen. Nicole Boyd, a Republican from Oxford and the bill's lead sponsor, said she and other senators borrowed some ideas from surrounding states to determine how these funds could best prevent more fallout from the opioid crisis. 'It involves everything, from child welfare services to the judicial system to medical care to mental health services,' she said. 'It is a crisis that has affected every aspect of society, and we needed a comprehensive group of people making those recommendations.' However, the bill leaves some questions unanswered, like how the application process will work, when it will open to the public and how grants will be evaluated. Public health advocates and Mississippians impacted by addiction expressed concern about the advisory council's makeup, the $56 million carveout for expenses unrelated to the opioid crisis and the Legislature's final decision-making power. They said those provisions could cause some of the corporate defendants' dollars to be spent on issues other than addressing and preventing overdoses. Jane Clair Tyner, a Hattiesburg resident, lost her 23-year-old son Asa Henderson in 2019 after he struggled for years with substance use disorder. Until last month, through her former job with the Mississippi overdose prevention nonprofit End It For Good, she worked to ensure that fewer parents have to go through the pain her family experienced. She said the only ways these state settlement dollars should be spent are on improving Mississippi public health and keeping people who are at risk of overdosing safe. 'That's what it should go towards, but not to the Legislature,' she said. 'This is not a rainy day slush fund.' An evolving plan It wasn't always the plan for the Legislature to control so much of the settlement dollars. In 2021, when Mississippi and other states were in the midst of negotiating settlements, State Attorney General Lynn Fitch published an agreement between the state and local governments that would send only 15% to the Legislature's general fund. The agreement said that the bulk of the money – 70% – would be sent to the University of Mississippi Medical Center to build a new addiction medicine institute. But Mississippi law says the Legislature is the ultimate decision maker for how this type of state settlement money gets spent, according to Fitch's Chief of Staff Michelle Williams. So lawmakers passed their bill to change the plan. The Legislature changed the arrangement to make sure the money goes to where the state's most pressing addiction needs are, said Boyd. The advisory council, which will be supplemented by at least 22 additional nonvoting members, is a good way to have those needs captured, she said. As for the Legislature having final approval power, Boyd said that and other provisions were put into the bill to keep some power with lawmakers if the council becomes ineffective or political. It's the highest percentage of any state's opioid settlement share that will be controlled by a Legislature, according to the Vital Strategies Overdose Prevention Program and state guides. Dr. Caleb Alexander, an epidemiology professor at the Johns Hopkins Bloomberg School of Public Health, served as one of the plaintiffs' expert witnesses for some of the opioid lawsuits. Alexander has also helped U.S. cities and counties develop blueprints for how to use the settlements to quell their opioid crises. He said using the money on a variety of prevention, treatment and recovery strategies, rather than one big project, is likely a better way to save lives and prevent more addiction. But having the Legislature, rather than an apolitical body of addiction experts, play such a large role is not the setup he would suggest. 'I would have some concerns that it may gum things up,' he said. Additionally, Alexander said creating ways for funds to not be used to address the opioid epidemic, as the 2025 bill does, is 'a shame.' While the settlement agreements say that 70% of the funds must be spent on addressing addiction, there is nothing that prevents all the money from being used for the crisis, and most statesare doing that. He said the settlements define a wide variety of uses as addressing the epidemic — from first responder training to medication research and development — and he doesn't see a scenario where it makes sense to spend the money on other uses. 'The costs of abatement far outweigh the available funds for every city or county that I've examined,' he said. Boyd said she believes her colleagues in the House and Senate are all motivated to use this money to address addiction as a mental health condition. She said the new bill categorizes some funds as 'nonabatement' to free them up for ways to address addiction that may not fit neatly into the settlements' list of uses. The attorney general's original plan was the first to categorize a percentage of the funds as not needing to be used to stop the opioid crisis. Williams said it was written that way to match the terms of the national settlement agreements, although the settlement for the largest payout says spending on purposes other than addressing the opioid crisis is 'disfavored by the parties.' She said Fitch would love to see all the funds be spent on addiction response and prevention, like the One Pill Can Kill campaign the office runs. 'But it's the Legislature's prerogative,' she said. 'Where are the people in recovery?' Jason McCarty, the Mississippi Harm Reduction Initiative's former executive director, said he's glad the plan is no longer to send such a large portion of the settlement funds to UMMC. Organizations like the Initiative, he said, also could use additional support to keep Mississippians from dying. And he's concerned that while a peer recovery specialist will serve as a nonvoting member, none of the committee's 15 voting members must be people who've experienced addiction. 'Where are the people in recovery?' he asked. 'We're the subject matter experts.' Boyd said many of the voting committee roles are representatives of state agencies that she expects will help administer the settlement grants, like the Department of Mental Health. And there were only so many people who the Legislature can assign spots. 'It was no slight to anybody,' she said. 'It's just, this is a completely complex issue.' The Mississippi governor, lieutenant governor and speaker of the house will each assign two people to the committee, and Boyd said it's possible they will choose people in recovery. The bill says council members need to be appointed by early June. However the process plays out, McCarty hopes all the state's funds go to reputable organizations focused on preventing more opioid-related harm. In Mississippi, he sees a lack of housing and treatment options, especially for new parents, as areas that this money can help address. And as hundreds of Mississippians continue to die from overdoses each year, he said the state government has to move quickly and responsibly to make these funds available. 'We don't have a year to wait. It needs to go out quicker.' ___ This story was originally published by Mississippi Today and distributed through a partnership with The Associated Press.
E&E News
14-05-2025
- Business
- E&E News
Florida ‘Cat Fund' has a healthy outlook ahead of hurricane season
TALLAHASSEE, Florida — A state-created fund that backs up private insurers in Florida remains healthy heading into this year's hurricane season, even as it deals with ongoing market volatility and paying off billions associated with last year's deadly storms. 'It would be really nice this year if we didn't have a hurricane,' Gina Wilson, chief operating officer for the Florida Hurricane Catastrophe Fund, said Monday during a meeting of the fund's advisory council. Details: The fund, which offers insurance companies reinsurance at prices generally lower than those in the private market, is legally obligated to provide up to $17 billion in coverage. The advisory council approved a new report that detailed the fund's financial health and how much money it would need to borrow to meet all of its obligations. Advertisement The status of the account, nicknamed the 'Cat Fund,' is important to Floridians regardless of where they live. The state can impose a surcharge critics call a 'hurricane tax' on most insurance policies — including auto insurance policies — to replenish the fund if it runs out of money.
