The Battle of the Bill: Trump and Musk at odds over Republicans' Proposal
Budget clash escalates between Trump and Musk - Political disagreement surfaces between Trump and Musk over fiscal matters
Elon Musk, ex-advisor to the Oval Office, has hit out at a tax law drafted by Trump, referring to it as "appalling," "arrogant," and "a disgrace." On Tuesday, the tech genius voiced his concerns during a public outburst. Musk played a pivotal role in the implementation of cuts to staff and governmental expenditures under Trump's administration.
Trump voiced his dismay over Musk's criticism of the bill during his visit with Chancellor Friedrich Merz (CDU) at the White House. Trump hinted at potential friction in their relationship, stating that he was "extremely disheartened" over Musk's critique. He left the option open regarding whether he would continue to maintain a cordial friendship with his former advisor.
"I am deeply disappointed," Trump said, due to Musk's allegedly superior knowledge of the tax law. "Suddenly he's acting like there's a problem."
Musk then accused Trump of hypocrisy about online services X. "Where's the man who wrote these words? Did he swap places with a double?" Musk retorted on Twitter, addressing Trump's past criticisms of increasing state budgets.
As the controversy deepened, Trump escalated his tone on Thursday. The tech billionaire was accused of "losing it," the US President wrote on his online platform Truth Social, adding that he had fired Musk. In another post, Trump augmented his sentiments with a warning: "My easiest move to save billions in our budget would be to cut Elon's subsidies and contracts."
The bill under debate offers an extension to the substantial tax cuts from Trump's previous term (2017-2021), which would otherwise expire by year's end. To offset this, drastic cuts are planned for Medicaid, a healthcare program aimed at lower-income and elderly populations, and support for food assistance for the impoverished, potentially affecting up to 3.2 million people.
Trump is pushing for the Senate to pass the law by July 4th, despite apprehensions from Republicans. The 1116-page bill has already been approved by the House of Representatives.
On Thursday, Tesla's stock plummeted following the market close. The electric vehicle manufacturer's share price dropped by more than 14 percent to $285.41 (€249.51), leading to a loss in market value of over $100 billion.
- Elon Musk
- Donald Trump
- US President
- Budget Plan
- Tesla
- Friedrich Merz
- CDU
- Relationship Tensions
- Tax Cuts
- Medicaid Cuts
- Original Tweets
- Elon Musk, the tech entrepreneur and former advisor to the US President, has criticized Donald Trump's budget plan, labeling it as "appalling," "arrogant," and "a disgrace."
- The dispute over budgets between Musk and Trump has further strained their relationship, with Trump expressing his dismay and hinting at potential friction.
- The bill under debate offers an extension to the substantial tax cuts from Trump's previous term, which could lead to drastic cuts in Medicaid and support for food assistance programs, potentially affecting millions.
- In a series of original tweets, Musk accused Trump of hypocrisy about online services X and questioned Trump's integrity regarding past criticisms of state budgets.
- Following Trump's escalated tone and accusations, Tesla's stock plummeted, leading to a loss in market value of over $100 billion.
