Trump says he won’t ‘destroy’ Elon Musk’s companies by revoking govt subsidies
President Donald Trump stated on Thursday that he does not want to destroy the businesses of SpaceX and Tesla CEOs by withdrawing federal subsidies, presumably in an attempt to mend some of the recent animosity between him and tech tycoon Elon Musk.
The president said on hisTruth Social platform, “Everyone is saying that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives from the U.S. Government.””This is untrue! I want Elon and every company in our nation to flourish—indeed, flourish like never before! The USA will do better if they do better, which benefits all of us. Every day, we break records, and I want that to continue.”
In case you missed it, Tesla announces a drop in car sales due to tax credit reductions. Loom
The declaration follows a series of public arguments between the two over President Trump’s big, beautiful bill, a comprehensive tax and spending plan that was signed into law earlier this month and contains reductions to federal subsidies that directly affect Musk-owned businesses.
The legislation’s main features are subsidies for installing EV charging stations and the expedited phase-out of an EV tax credit for buyers of new or used electric vehicles, including Teslas. Some analysts estimate that Tesla may lose billions of dollars if the tax credits are eliminated.
Musk, who oversaw the Department of Government Efficiency and was once a presidential adviser, has frequently criticized the entire bill, claiming it will destroy millions of jobs and increase the national debt by trillions of dollars.
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Since then, Musk has also suggested creating a third political party to combat the “waste and graft” in the federal government. In response, President Trump charged that Musk had lost his mind and had become a train wreck.
Trump said that slashing Musk’s federal contracts and subsidies would save the nation billions and billions of dollars. Separately, Musk and the president argued last month during an increasingly personal exchange in which Musk implied the president had connections to convicted sex offender Jeffrey Epstein.
“Time to drop the really big bomb:@realDonaldTrumpis in the Epstein files,” he posted on his official social media account, X. “The actual reason they haven’t been made public is because of this. Enjoy your day, DJT.
Musk provided no proof to back up the assertion. The so-called Epstein files have long been the subject of conspiracy theories that claim they will expose Epstein’s relationships with prominent public personalities.
