Elon Musk launched a scathing criticism of the latest budget bill led by President Trump, warning of the collapse of the renewable energy industry and its negative economic impact. Through his social media platform 'X', Musk described the bill as "completely insane and destructive", claiming that millions of American jobs would disappear and cause significant damage to national strategy.
The controversial 'One Big Beautiful Bill Act' must be approved by both the Senate and House to become law. The amendment is designed to eliminate tax credits for eco-friendly energy sources like wind and solar, drastically reduce tax benefits for electric vehicles, and provide tax breaks for the coal industry, drawing backlash from environmental organizations and green industry investors.
Musk stated that the bill would "destroy future industries and waste taxpayer money on past industries", pointing out that President Trump is "strategically endangering the United States". He expressed strong concerns about the termination of electric vehicle purchase tax credits after September 30th, including the elimination of benefits for used and commercial electric vehicles. Additionally, he highlighted that new taxes would be imposed on wind and solar projects completed after December 31st, 2027, if they use Chinese components.
Musk has repeatedly criticized this bill in the past. In December last year, he withdrew support from some Republicans by opposing excessive government spending plans, even bringing the US federal government to the brink of shutdown. Although he was once a key supporter and top donor for Trump's re-election campaign, his recent resignation from the DOGE advisory board has reportedly created a rift in their relationship.
Following his criticism, Musk garnered some response from fiscally conservative Republican lawmakers, leading to uncertainty about the bill's Senate passage. He shared poll results on his platform, calling the bill a "political suicide" for the Republican Party and describing it as an "incompetent bill".
Renewable energy advocacy groups and environmentalists echoed Musk's sentiments. They pointed out that the bill would increase household electricity costs and constrain new energy supply capabilities needed to meet the growing power demands of AI data centers.
President Trump responded by stating that the clean energy industry should now be self-sufficient and that further government support is unnecessary. Tom Pyle, president of the American Energy Alliance, supported the government's decision, saying that "an industry that collapses without subsidies should never have existed in the first place".
Musk did not stop there, pressuring Republican lawmakers by promising to support their primary challengers. While there were speculations about potentially restoring his relationship with President Trump, the White House has stated that the president currently has no plans to speak with Musk. This controversy is seen as an example of extreme tension in politics and industry surrounding energy policy.
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