Trump suggests Doge look at Musk’s companies to save money
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Mr Musk’s criticism of the Bill has caused a rift in his relationship with Mr Trump.
PHOTO: REUTERS
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WASHINGTON - US President Donald Trump suggested on July 1 that his efficiency department should take a look at the subsidies that Tesla CEO Elon Musk’s companies have received in order to save the federal government “BIG” money.
Mr Trump’s comments come after billionaire Mr Musk renewed his criticism on June 30 of Mr Trump’s sweeping tax-cut and spending Bill, vowing to unseat lawmakers
“Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!,” Mr Trump said in a post on Truth Social.
In response to Mr Trump’s post, Mr Musk, in his own social media platform X, said “I am literally saying CUT IT ALL. Now.”
Mr Trump previously threatened to cut Mr Musk’s government subsidies and contracts when their relationship dissolved into an all-out brawl on social media in early June over the Bill, which non-partisan analysts have said would add about US$3 trillion (S$3.8 trillion) to the US debt.
Mr Musk’s businesses include rocket company and government contractor SpaceX, which has about US$22 billion in federal contracts, and its satellite unit Starlink.
His rift with Mr Trump also caused volatility for Tesla, with shares of the electric car company losing about US$150 billion of its market value on June 5, the largest single-day decline in the company’s history, though it has since recovered.
After weeks of relative silence, Mr Musk rejoined the debate on June 28 as the Senate took up the package, calling it “utterly insane and destructive” in a post on social media platform X.
On June 30, he ramped up his criticism, saying lawmakers who had campaigned on cutting spending but backed the Bill “should hang their heads in shame!”
“And they will lose their primary next year if it is the last thing I do on this Earth,” Mr Musk said.
The Tesla and SpaceX CEO called again for a new political party, saying the bill’s massive spending indicated “that we live in a one-party country – the PORKY PIG PARTY!!”
“Time for a new political party that actually cares about the people,” he wrote.
Mr Musk’s criticism of the Bill has caused a rift in his relationship with Mr Trump, marking a dramatic shift after the tech billionaire spent nearly US$300 million (S$381.62 million)
Mr Musk, the world’s richest man, has argued that the legislation would greatly increase the national debt and erase the savings he says he has achieved through Doge.
It remains unclear how much sway Mr Musk has over Congress or what effect his opinions might have on the bill’s passage.
But Republicans have expressed concern that his on-again, off-again feud with Mr Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
The rift has also led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately US$150 billion of its market value, though it has since recovered. REUTERS
