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U.S. President Donald Trump has threatened to revoke government subsidies for Tesla and SpaceX, escalating a public feud with Elon Musk over a controversial tax and spending bill. In a post on Truth Social Monday night, Trump claimed Musk has received “more subsidy than any human in history” and suggested that without federal aid, the billionaire might have to “close up shop and head back to South Africa.” He added, “No more rocket launches, satellites, or electric car production.”
Musk quickly fired back on X, formerly Twitter, saying, “I am literally saying CUT IT ALL. Now.”
The clash centers around Trump’s “Big Beautiful Bill” Act, which proposes extending his 2017 tax cuts while increasing federal spending on defense and border control. Musk opposes the bill, warning it will significantly raise the national deficit. A bipartisan report estimates the legislation could add $3.3 trillion to U.S. debt over the next decade.
Musk also contends the bill undermines cost-cutting efforts under the Department of Government Efficiency (DOGE), which he supports. Critics argue Trump’s plan to offset tax cuts with spending reductions, especially on Social Security, is unrealistic. Trump’s claim that tariff revenues will improve fiscal health has also been widely questioned.
Ratings agency Moody’s downgraded the U.S. credit rating in May over concerns tied to the bill. Earlier in June, Trump had already warned of cutting contracts and subsidies tied to Musk’s companies. Tesla is currently a major beneficiary of electric vehicle incentives introduced during the Biden administration, while SpaceX holds key contracts with NASA.
As the Senate debates the bill, the Trump-Musk dispute underscores growing tensions over U.S. fiscal policy, tech-sector funding, and government spending priorities.
