Elon Musk hits out at tax bill

San Francisco: 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.

Musk, the CEO of Tesla Inc. and SpaceX, posted on his social media platform X about the bill, which the Senate advanced in a contentious vote late Saturday. Musk recently left 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," Musk said.

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 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 Sept. 30.