6 June
International Desk
Sandeep Dhand
Journalist and Research Analysist
A major political clash has erupted between tech billionaire Elon Musk and former U.S. President Donald Trump over a newly passed tax bill. Elon Musk made a strong statement claiming that without his support, Trump would not have won the 2024 presidential election. Musk argued that if he had not backed Trump, the Democratic Party would have taken control of the House, and Republicans would have only narrowly led the Senate by a 51-49 margin.
This bold claim from Musk comes at a time when tensions between the two figures are high due to disagreements over the recently passed tax bill. According to Trump, Musk is upset because the bill removes tax credits for electric vehicles (EVs), a move that directly affects Tesla. Trump criticized Musk, saying he liked Elon and didn’t understand why he was attacking the bill instead of just criticizing him. Trump also expressed disappointment, stating, “I’ve helped Elon a lot, and he knew everything about this bill. Suddenly, he has a problem with it, especially after learning that we are planning to cut EV subsidies.”
Musk responded strongly on social media, saying the bill was rushed through Congress so quickly that no one had the chance to read it properly. He also claimed that he was never shown the bill before it passed and called it unfair. He stressed that while he supports incentives for EVs and solar power, the bill protects oil and gas subsidies while cutting clean energy support.
In another post, Musk stated, “Without me, Trump would have lost the election. Democrats would control the House, and Republicans would hold a narrow majority in the Senate.” He also accused Trump of being ungrateful, pointing to the significant financial support he had provided for Trump’s earlier policies.
The disagreement has grown into a public argument, with Trump calling Musk’s statements disappointing and Musk responding with criticism of the bill’s process and content. Trump claimed that Musk was aware of the bill’s key elements and had no issue with them earlier, but changed his stance once the EV-related cuts were revealed. He also said, “Elon and I had a great relationship. I don’t know if that will continue in the future.”
This political fight is a dramatic turn in what was once seen as a strong alliance. Musk, who was considered a strong Trump supporter in past years, reportedly spent a large amount of money backing Trump’s presidential campaign. He also supported various federal cost-cutting policies during Trump’s time in office. However, after stepping down from his position related to those efforts, Musk has now become one of the most vocal critics of the new tax law.
The effects of this clash were also seen in the stock market. On Thursday, Tesla’s stock fell by 8.44% on the Nasdaq exchange. Over the past few days, Tesla’s stock has dropped by about $28, reflecting investor concerns over the reduced EV incentives.
Musk continued to express his frustration in multiple social media posts. He said the bill was rushed and unfair, and even added a sarcastic comment that no law in history could be both “big and beautiful.” According to him, a law is either “big and ugly” or “slim and beautiful,” and he called for honest and fair legislation that supports future clean energy without bias.
This public dispute signals a major shift in the relationship between Elon Musk and Donald Trump. What was once a political partnership now appears to be heading toward rivalry, especially as both continue to influence the future of American policy and politics.