Quick overview

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President Donald Trump threatened to cut government subsidies for Elon Musk’s SpaceX and Tesla (NASDAQ: TSLA) on Monday night as the billionaire continued to criticize a significant spending bill that the president supported.

 

Trump posted on Truth Social that “Elon may receive more subsidies than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and return home to South Africa.” “Our nation would save a fortune if there were no more rocket launches, satellites, or electric car production.

“Perhaps we should have DOGE examine this thoroughly,” the president remarked. Musk responded, “I am saying CUT IT ALL,” in reaction to the X post. Right now.”

This exchange is the latest in a long-running dispute between Musk and Trump over the president’s “big beautiful bill” act, which proposes increased spending and tax cuts. Musk has strongly opposed the bill, arguing that it will increase debt and the federal deficit. A recent bipartisan analysis indicates that if the bill passes in its current form, the national debt will grow by over $3trillion over the next decade

Musk also claims the bill threatens his efforts to cut government spending while working for the Department of Government Efficiency (DOGE). Currently, the bill is under lengthy Senate debate and includes proposals for increased defense and border security spending, extending Trump’s 2017 tax cuts.