Elon Musk slammed the US Senate’s latest version of president Donald Trump’s multi-trillion dollar tax bill Saturday, warning that the cuts to electric vehicle and other clean energy credits would be “incredibly destructive” to the country.
Mr Musk, the chief executive officer of Tesla and SpaceX, posted on his social media platform X about the bill, which the Senate advanced in a contentious vote late Saturday.
Mr Musk recently left Mr Trump’s side after working for several months as the head of Trump’s so-called Department of Government Efficiency.
The bill would destroy millions of US jobs and give “handouts to industries of the past while severely damaging industries of the future,” Mr Musk said.
Kerry woman who swapped RTÉ for Bordeaux: ‘Their way of life is not just about making money – they work to live and have family time’
A fifth of homes not sold to individuals and why property tax can help fix the housing crisis
Increasing the property tax would encourage people to downsize from half-empty houses
Government cannot afford to deliver the homes Ireland needs without big investors
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 (€6,398) 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 September 30th. Tax credits for the purchase of used and commercial electric vehicles would end at the same time. – Bloomberg
