Elon Musk’s sharp criticism of the Republican tax and spending proposals appears to have ruffled the feathers of former President Donald Trump, setting the stage for a potentially fractured relationship between two high-profile figures.
Sources close to the matter indicate a growing tension, sparked by Musk’s increasingly vocal disapproval of the proposed legislation and the implications for businesses like Tesla. Trump, after months of cooperation with Musk, is reportedly displeased with the amplified critique, which has called into question various elements of the proposals. A senior White House official described Trump as “puzzled” by the shift in tone, especially after what they described as a period of close collaboration.
Adding fuel to the fire, the White House’s recent rejection of Trump’s nomination of Jared Isaacman to lead NASA reportedly further strained the tenuous alliance. Sources familiar with the situation suggest Musk felt that the decision was a betrayal, given what he perceived as his significant financial backing of Trump’s previous campaign. This, according to those close to Musk, has emboldened his criticism of the tax and spending package.
Musk has been particularly outspoken about the proposals, referring to their implications as “debt slavery legislation.” The specifics concerning the proposed legislation that targets the electric vehicle industry have attracted ire. The bill considers a yearly $250 fee for electric vehicle owners and $100 for hybrid vehicle owners, indicating the future landscape of the automotive industry.
These proposals also present clear challenges to Tesla’s energy storage business by eliminating consumer tax credits in the sector. As industry analyst Dan Ives of Wedbush Securities pointed out, this measure would negatively affect the company’s performance.
Musk echoed Tesla’s official stance on the matter by sharing a social media post that read, “Abruptly removing energy tax credits will threaten American energy independence and grid reliability.”
Further intensifying the conflict, Musk has launched a bold campaign to mobilize public opposition, urging Americans to contact their representatives. Accompanied by a striking visual using a movie still, Musk’s plea was, “Call your Senator. Call your Representative. It’s wrong to bankrupt America!” This call to action came a day after the former president was critical of the tax and spending proposal. While Trump has remained silent on the matter, the White House issued a statement on Wednesday claiming the bill will usher in an “unprecedented era of economic growth.”
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