Trump's recent criticism of subsidies for Elon Musk has caused Tesla's stock to drop by 6 percent. He suggested the Department of Government Efficiency (DOGE) explore reducing subsidies to save money, arguing that Musk's ventures heavily rely on federal support. Without these subsidies, Musk could face significant operational challenges. The criticism coincided with Musk's disapproval of new tax laws, as Senate Republicans passed Trump's spending cuts bill narrowly. The ongoing feud may have broader implications for Tesla's regulatory approvals and financial future.
Trump suggested that the Department of Government Efficiency (DOGE) review subsidies connected to Elon Musk, including those received by Tesla and SpaceX, to save money.
Without subsidies, Musk could potentially find it difficult to sustain operations, impacting his companies like Tesla and SpaceX significantly.
The tension between Musk and Trump intensified as Musk criticized the government's tax-cut and spending bill, leading to renewed calls for scrutiny of government funding.
Senate Republicans narrowly passed Trump's tax breaks and spending cuts bill with a 50-50 vote, emphasizing the contentious political landscape surrounding government spending.
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