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Trump, Musk feud deepens over sweeping tax-cut bill as Tesla shares plunge

FEUD ESCALATES AS MUSK CRITICISES TRUMP’S ‘BEAUTIFUL BILL’

Beginning Tuesday, Musk launched a wave of criticism against Trump’s proposed legislation, dubbed the “big, beautiful bill”, calling it a “disgusting abomination” that would drive up US debt. Nonpartisan estimates say the measure could add between US$2.4 trillion and US$5 trillion to the national debt, which now exceeds US$36 trillion.

Trump dismissed Musk’s critique as self-serving, saying it stemmed from the bill’s plan to scrap tax credits for electric vehicles, a key benefit for Tesla.

“He’s not the first,” Trump said. “People leave my administration … then at some point they miss it so badly, and some of them embrace it and some of them actually become hostile.”

Musk had headed the White House’s Department of Government Efficiency, where he oversaw broad spending cuts and staff reductions. Though hailed by Trump last week upon his departure, Musk later expressed frustration with the limits of his influence.

Musk claimed he planned to scale back his political activity, but his latest posts suggest otherwise. He called the bill a “mountain of disgusting pork” and posted: “Slim Beautiful Bill for the win… KILL the BILL.”

Though Musk’s office cut federal spending by tens of billions, the total fell far short of his US$2 trillion target. The disruption triggered legal action and backlash across government agencies.

Some Republicans are now echoing Musk’s concern about the bill’s cost, raising doubts about its future in the Senate.

Meanwhile, investors and political analysts are watching closely as the fallout from the feud grows. Protests at Tesla sites in the US and Europe have intensified, with critics arguing Musk’s political focus is hurting his companies.

A White House official, speaking on background, underscored the cooling dynamic between the two men.

“The president is making it clear: this White House is not beholden to Elon Musk on policy,” the official said. “By attacking the bill the way he did, Musk has clearly picked a side.”

Source: CNA

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