Trump suggests DOGE look at Musk's companies to save money
Trump's comments come after billionaire Elon Musk renewed his criticism on Monday of Trump's sweeping tax-cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending
Highlights:
- Trump suggests DOGE review Musk's subsidies for savings
- Musk criticizes tax-cut bill, calls for new political party
- Feud with Trump causes Tesla stock volatility
US President Donald Trump suggested on Tuesday that his efficiency department should take a look at the subsidies that Tesla CEO Elon Musk's companies have received in order to save the federal government "BIG" money.
Trump's comments come after billionaire Elon Musk renewed his criticism on Monday of Trump's sweeping tax-cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending.
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"Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!," Trump said in a post on Truth Social.
In response to Trump's post, Musk, in his own social media platform X, said "I am literally saying CUT IT ALL. Now."
After weeks of relative silence following a feud with Trump over the legislation, Musk rejoined the debate on Saturday as the Senate took up the package, calling it "utterly insane and destructive" in a post on social media platform X.
On Monday, he ramped up his criticism, saying lawmakers who had campaigned on cutting spending but backed the bill "should hang their heads in shame!"
"And they will lose their primary next year if it is the last thing I do on this Earth," Musk said.
The Tesla and SpaceX CEO called again for a new political party, saying the bill's massive spending indicated "that we live in a one-party country – the PORKY PIG PARTY!!"
"Time for a new political party that actually cares about the people," he wrote.
Musk's criticism of the bill has caused a rift in his relationship with Trump, marking a dramatic shift after the tech billionaire spent nearly $300 million on Trump's re-election campaign and led the administration's controversial Department of Government Efficiency (DOGE), a federal cost-cutting initiative.
Musk, the world's richest man, has argued that the legislation would greatly increase the national debt and erase the savings he says he has achieved through DOGE.
It remains unclear how much sway Musk has over Congress or what effect his opinions might have on the bill's passage. But Republicans have expressed concern that his on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
The rift has also led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately $150 billion of its market value, though it has since recovered.
