Unraveling the Rift: Trump vs Musk's Budget Battle Royale
Financial disagreement surfacing between Trump and Musk regarding budgetary proposals - Financial disagreement surfaces between Trump and Musk
Here's a heated tussle unfolding between the tech billionaire, Elon Musk, and the former advisor turned critic, Donald Trump. The bone of contention? A tax bill.
Musk, infamously known for his brutally honest opinions, called Trump's proposed tax bill "disgusting," "brazen," and an "abomination" on Tuesday. As Trump's former advisor, Musk was instrumental in the cuts he spearheaded in various government departments and agencies.
Trump wasn't far behind, voicing his displeasure on Thursday during German Chancellor Friedrich Merz (CDU)'s visit to the White House. He expressed his disappointment towards Musk's criticism of the tax bill, hinting that their relationship might not remain as cordial. "Elon and I had a great relationship. I don't know if that will still be the case. I was surprised," Trump shared.
However, it seems Trump was more taken aback by Musk's alleged hypocrisy. Trump perceived Musk's sudden criticism as inconsistent, given Musk's previous agreement with Trump's stance on state budget increases[1]. Musk, in his defense, accused Trump of being two-faced, implicating that the current president might have swapped places with a doppelganger[2].
Things took a turn for the worst when Trump took to his online service, Truth Social, berating Musk. Trump deemed Musk as having "gone mad," and demanded Musk vacate his post. Trump's taunts didn't stop at that; he threatened to cut subsidies and contracts tied to Musk's state projects[3].
Notably, the controversial bill offers a prolongation of the substantial tax cuts from Trump's initial term (2017-2021), set to expire by the year-end. To compensate for this, extreme cuts are proposed for Medicaid, a healthcare program catering primarily to low-income and elderly individuals. Furthermore, aid programs for the underprivileged may see a reduction, potentially affecting up to 3.2 million people[4].
Trump is keen on passing this bill before the US Independence Day on July 4th, despite facing opposition - even among Republicans[5]. The bill already received a green light in the House of Representatives.
Meanwhile, Thursday saw Tesla's share price plummet on the stock market following this escalating feud. The stock of the electric car manufacturer, led by Musk, tumbled by over 14% to $285.41 (€249.51). Tesla saw a staggering $100 billion drop in market capitalization[5].
- Elon Musk
- Donald Trump
- US President
- Budget Plan
- Tesla
- Friedrich Merz
- CDU
- Feud
[1] Enrichment Data: Musk's Criticism of Trump's Budget Plan Irks Former Ally[2] Enrichment Data: Musk Accuses Trump of Being Two-Faced over Budget Fight[3] Enrichment Data: Trump Escalates Feud with Musk, Threatens to Remove Subsidies[4] Enrichment Data: Budget Plan Threatens Healthcare and Food Assistance for Millions[5] Enrichment Data: Trump Pressures Senate for Budget Bill Passage by Independence Day
- Elon Musk's vocal criticism of Donald Trump's budget plan has ignited a heated feud between the two, stirring controversy in the business world.
- As the US President, Donald Trump has made several cuts in various government departments and agencies, including those advocated by Elon Musk during his tenure as Trump's advisor.
- The tax bill at the center of the dispute between Elon Musk and Donald Trump includes proposals for prolonging substantial tax cuts from Trump's initial term, but also includes extreme cuts for Medicaid and aid programs for the underprivileged.
- Elon Musk, known for his outspoken nature, has labeled Trump's proposed budget plan as "disgusting," "brazen," and an "abomination."
- In a surprise move, Donald Trump hinted that his relationship with Elon Musk might not remain cordial due to the tech billionaire's sharp criticism of the tax bill.
- The feud between Elon Musk and Donald Trump has taken a damaging turn, with Trump berating Musk on Truth Social, demanding he vacate his post, and threatening to cut subsidies and contracts tied to Musk's state projects.
- The ongoing feud between Elon Musk and Donald Trump has led to estimated losses for Tesla, the electric car manufacturer led by Musk, with the stock plummeting by over 14% on the stock market.
- Fredrich Merz, the leader of the CDU party in Germany, met with Donald Trump during his White House visit, but the heated budget debate between Trump and Elon Musk was a significant point of discussion.
- Despite facing opposition, even among Republicans, Donald Trump is eager to pass his controversial budget plan before the US Independence Day on July 4th.
- The escalating feud between Elon Musk and Donald Trump has turned heads in the world of finance, lifestyle, investing, business, and technology, with discussions on social media platforms engrossing millions.
- As the feud between Elon Musk and Donald Trump continues, it is also spurring concern within the realms of policy-and-legislation, car-accidents, crime-and-justice, accidents, fires, and sports – with implications on general news, war-and-conflicts, product-reviews, entertainment, and sports-betting.
