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Trump Criticizes Musk for Tax Reform Opposition
On Thursday, President Donald Trump expressed his dissatisfaction with Elon Musk, the CEO of Tesla, following Musk’s public opposition to a major tax reform and spending bill central to Trump’s administration’s objectives.
“I had a great relationship with Elon, but I’m not sure if that will continue," Trump commented in the Oval Office. "He used to say wonderful things about me, and up until now, he hadn’t spoken poorly of me personally. But I’m sure that might change soon. I’m quite let down by Elon. I’ve supported him quite a bit."
Trump suggested that Musk’s fierce criticism of the legislation stems from the proposed removal of consumer tax credits for electric vehicles. Musk, who leads Tesla, has voiced his concerns about the bill, arguing it would lead to higher federal deficits.
The former president speculated that Musk might be feeling discontent because he misses his role in Trump’s administration. “He’s not the first one. Many leave my administration and then they miss it so much. Some embrace it, while others turn hostile,” Trump remarked.
As Trump spoke, Musk posted on X with the phrase, “Slim Beautiful Bill for the win," referring to the bill’s official title, the "Big Beautiful Bill Act." Musk later followed up, indicating he would accept cuts to electric vehicle incentives if Republicans could eliminate what he termed a “mountain of disgusting pork” from wasteful expenditures in the bill.
When Musk joined the administration, he had ambitious plans to trim $2 trillion from the federal budget. Ultimately, he accomplished significantly less, cutting only about half of one percent of total spending.
Historically, Musk has been a strong ally of Trump, investing nearly $300 billion to strengthen Republican chances in the upcoming 2024 election while overseeing Trump’s efforts to improve government efficiency. His initiatives led to thousands of federal job cuts and significant reductions in foreign aid, causing notable disruptions across various federal agencies and sparking protests at Tesla locations in both the U.S. and Europe.
Following Trump’s remarks, Tesla’s stock took a hit, dropping nearly 6%; prior to Trump’s comments, it was down by 3%.
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