President Trump turned up the heat on Elon Musk Thursday, voicing “disappointment” over the billionaire’s attacks on his spending bill and casting doubt on the future of their once-close alliance.
Trump also asserted that Musk's attacks on the bill were motivated by the legislation's proposed elimination of consumer tax credits for electric vehicles. Musk, the CEO of electric vehicle maker Tesla, has said he opposes the bill because it will increase federal deficits.
"I'm very disappointed in Elon," Trump said in the Oval Office. "I've helped Elon a lot."
As Trump was speaking, Musk wrote on X, "Slim Beautiful Bill for the win," a reference to the bill's official title, the "Big Beautiful Bill Act."
Musk has been a powerful Trump ally, spending nearly $300 billion to boost Republicans in the 2024 election and then overseeing Trump's sweeping cost-cutting effort in the federal government.
Shares of Tesla extended losses after Trump's criticism of Musk. The stock was lately down nearly 6%; it was off by 3% before Trump spoke. (Reporting By Nandita Bose and Jarrett Renshaw, writing by Joseph Ax; Editing by Scott Malone.
