Musk rages as Trump tax bill slashes electric vehicle credits
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(Bloomberg) — Elon Musk slammed the U.S. Senate’s latest version of President Donald Trump’s multi-trillion dollar tax bill Saturday, raging online that the cuts to electric vehicle and other clean energy credits would be “incredibly destructive” to the country.
Musk, the chief executive officer of Tesla Inc. and SpaceX, posted on his social media platform X about the bill, which the Senate was planning to put to an initial vote on Saturday. Musk recently left Trump’s side after working for several months as the head of Trump’s so-called Department of Government Efficiency.
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The bill would destroy millions of US jobs and give “handouts to industries of the past while severely damaging industries of the future,” Musk said.
The tech billionaire’s latest criticism of the package threatens to reawaken his public rift with Trump that began after the world’s richest man left his cost-cutting job in the administration.
The bill would bring a quicker end to a popular $7,500 consumer tax credit for electric vehicles.
While the earlier proposal would have ended the incentive at the end of this year for most EV sales, the new version terminates the credit after Sept. 30. Tax credits for the purchase of used and commercial electric vehicles would end at the same time.
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