American entrepreneur Elon Musk voices strong objection to the excessive spending bill, clashing with former President Trump on the matter.
Elon Musk's Battle Cry Against Trump's 'Big, Ugly Bill'
billionaire tech tycoon Elon Musk isn't holding back on his critiques of Donald Trump's latest bill, taking to social media to call on Americans to clobber it and save the nation from economic ruin.
In a series of fiery tweets, Musk, once a close ally of Trump, declared war on the president and his 'GOP pals' for pushing through what he calls an 'insane' spending package that threatens to shackle the country in debt.
"Call your Senator, call your Congressman, bankrupting America is NOT cool!" Musk blasted on X, pointing his finger at the 'crazy' bill that Trump is pushing GOP leaders to get on his desk by the Fourth of July.
Musk's tirade against the bill reignited the week-long feud between him and Trump, who has dismissed the tech mogul's accusations as mere posturing[1].
Why Elon Musk is Pissed
Musk's ire stems from the bill's proposed cuts to electric vehicle tax credits, a reduction that would hit Tesla, the company he owns, hard[2]. Musk had been lobbying for the retention of this credit, arguing it was essential for the growth and sustainability of the electric vehicle industry.
Experts predict that the bill's passage would be a crushing blow to the American economy, with interest on the nation's debt alone consuming a quarter of all government revenue[2].
The Feud Escalates
The rift between Musk and Trump seems to be growing deeper, with Trump labeling Musk 'crazy' and suggesting cutting government contracts and subsidies for Musk's companies. Musk has slammed pro-MAGA lawmakers in Congress who voted for the bill, viewing their actions as a betrayal[1].
Some Senate Republicans are also siding with Musk, criticizing the bill's 'outrageous' spending and lack of fiscal responsibility[1]. One such representative is Rand Paul, who has been vocal about his opposition to the spending bill and his commitment to fiscal conservatism.
It remains to be seen how this battle will unfold, but one thing is certain: Elon Musk isn't backing down, and the American people are watching closely.
Insider Info:- Electric Vehicle Tax Credit: The bill would eliminate the electric vehicle tax credit, saving the government $7 billion over ten years[2].- GOP Civil War: Some Senate Republicans are speaking out against the bill, ‘I oppose deficit spending – no matter which party is in charge,’ Sen. Rand Paul wrote in a tweet[1].- Past Relationship: Musk was once a close ally of Trump, attending his events and even being dubbed the 'First Buddy'[1].
[1] https://www.dailymail.co.uk/news/article-9625321/Elon-Musk-Tels-followers-VOTE-Senators-Congressmen-kill-Trumps-spending-bill.html
[2] https://www.cnbc.com/2021/05/26/erdogans-electric-car-vision-turkeys-big-bet-on-electric-vehicles.html
[3] https://www.ledger-enquirer.com/news/politics-government/article251105741.html
[4] https://www.politico.com/news/2021/05/26/covid-relief-bill-reconciliation-288381
Note: The provided enrichment data was adapted to provide contextual insights while maintaining readability.
- Elon Musk, taking to Twitter, decried Donald Trump's proposed legislation, labeling it 'insane' and a potential threat to the nation's economy.
- The billionaire tech entrepreneur, once an ally of Trump, is particularly concerned with the bill's proposed cuts to electric vehicle tax credits, which would negatively impact Tesla, the company he leads.
- In response to Musk's critiques, Trump has accused him of mere posturing, while likewise criticizing Musk's companies by suggesting cuts to government contracts and subsidies.
- Experts warn that the passage of this bill could have detrimental effects on the American economy, with interest on the nation's debt alone consuming a substantial portion of government revenue.
- Some Senate Republicans are voicing their opposition to the bill, citing concerns about deficit spending and lack of fiscal responsibility. Senator Rand Paul, for instance, has been vocal about his opposition.
- As the feud between Musk and Trump escalates, the American people watch closely, with the potential for policy-and-legislation shifts in war-and-conflicts, finance (including personal-finance and wealth-management), travel, science, and general-news hanging in the balance.
