President Donald Trump expressed disappointment with Elon Musk, stating he’s “very disappointed” in the tech billionaire’s criticism of the Republican tax cut package. Trump described the bill as the “biggest tax cuts in history” and a significant economic development move.
The Feud Escalates- Trump’s Reaction: Trump said he was surprised by Musk’s criticism, given their previously positive relationship. Musk had spent millions supporting Trump’s presidential campaign and served in his administration.
– Musk’s Response: Musk pushed back on Trump’s comments, saying he was never shown the bill before it passed and disputing Trump’s claim that he was aware of its contents. Musk called the bill a “disgusting abomination” that would worsen the federal budget deficit.
The Tax Bill Controversy- Deficit Impact: The bill is estimated to add $2.4 trillion to the deficit over the next decade, sparking debate among Republicans and criticism from Musk.
– Electric Vehicle Incentives: Musk’s opposition stems partly from the elimination of electric vehicle tax credits, which he believes will harm the industry.
Potential Consequences- Government Contracts: Trump threatened to cancel government contracts with Musk’s companies, potentially impacting Tesla and SpaceX.
– Future Relationship: The feud may strain Musk and Trump’s relationship, which was previously seen as positive.