- Elon Musk condemns Trump’s megabill, highlighting job and industry impact.
- Musk targets sections affecting clean energy.
- No explicit pledge to remove lawmakers supporting the bill.
Elon Musk has publicly expressed criticism against Donald Trump’s proposed economic megabill via his official X account. Musk predicts the bill will cause considerable job losses and negatively impact strategic industries in America.
Elon Musk’s Objection
Elon Musk, CEO of Tesla and SpaceX, denounced Donald Trump’s economic legislation, calling it destructive. He argues that the bill prioritizes outdated industries over innovative, future-facing sectors. Musk predicts it will “destroy millions of jobs.”
“The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future.” — Elon Musk, CEO of Tesla [1]
Musk’s public opposition aligns with his unresolved lobbying efforts to protect electric vehicle credits attached to Tesla’s success. Despite intense criticism, no official evidence suggests Musk aims to remove lawmakers supporting the bill.
The bill threatens specific sectors, notably those tied to renewable energy credits. Musk’s prediction of manpower reductions predicts economic setbacks. While Tesla might face challenges, no direct cryptocurrency impacts are observed.
Musk’s stance on Trump’s legislation involves financial and political ramifications, as the bill could shift market dynamics. This episode underscores ongoing debates about energy transitions and economic priorities.
Bitcoin and Ethereum saw no direct market reaction from Musk’s statements. Historical trends suggest legislation affecting energy credits impacts industry stocks but not cryptocurrencies. Musk’s criticism is rich in economic stakes, highlighting potential regulatory concerns. His high-profile objections could prompt broader scrutiny of the economic agenda.
