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By Ayo Kehinde
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The President of the United States Donald Trump has announced his intention to cut federal subsidies to the companies of the CEO of Tesla, Elon Musk, rekindling a public feud between the two influential billionaires on public spending.
In a fiery post on social truth, Trump criticized Musk for having benefited from those who described as “historical” levels of support of the government and asked for a subsidy rollback to save taxpayers’s funds.
“Elon can get more subsidies than any human being in history, by far. Without subsidies, Elon should probably close the shop and return to South Africa,” Trump wrote.
“No more launchs of rockets, satellites or production of electric cars – and our country would save a fortune. Maybe we should have taken a good look at this? Big money to save !!!”
The outbreak followed Musk’s growing criticisms about what Trump had previously described as a great and beautiful bill, sweeping government spending package that Musk claims that Musk will mount national debt and damage the American industry.
Musk published on his X platform: “Every member of the congress that made a campaign to reduce government expenses and then immediately voted for the largest increase in debt in history should hang his head in shame!
“They will lose their primaries next year if it’s the last thing I do on this earth.”
Musk also promised his support to the republican deputy Thomas Massie del Kentucky, one of the few legislators who opposed the bill.
Trump had previously promised to make a campaign against Massie in the Gop primaries, swearing to support “a wonderful American patriot” to challenge him.
The Mogul billionaire of technology, which resigned from his role of consultancy in the government’s efficiency department in May, repeatedly slammed the legislation.
He warns that he could increase the roof of the US debt of $ 5 trillion, cause enormous losses of jobs and do “immense strategic damage” to the country.
An important point of dispute for Musk is the potential elimination of tax credits for electric vehicles pursuant to the new law, including the federal credit of $ 7,500 for new electric vehicles and $ 4,000 for those used.
The financial giant JPMorgan Chase estimated that the loss of these incentives could cost Tesla up to $ 1.2 billion in revenue.
By breaking his silence during the weekend, Musk defined the “absolutely crazy and destructive” bill as he advanced through the Senate.
In response, Trump has doubled his opposition to the mandate of electric vehicles, accusing Musk of melting policies.
“Elon knew that I was strongly against the EV mandate long before he approved me,” Trump published on Monday evening.
“Electric cars are fine, but not everyone should be forced to own one. It is only ridiculous – and it has always been.”
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