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Musk condemns latest Senate bill that would 'destroy millions of jobs,' raise taxes on wind, solar projects

  • Elon Musk criticized the White House's latest tax and spending legislation, expressing concerns about its potential impact on jobs and emerging industries as senators prepared to vote on the measure on June 29, 2025.
  • Musk renewed his criticism because he believes the bill would destroy millions of jobs and cause strategic harm to the U.S. economy.
  • He condemned the bill for providing subsidies to outdated sectors at the expense of emerging industries and warned that supporting it would be a political disaster for Republicans.
  • Musk criticized the legislation on X, stating it increases the nation's borrowing limit by $5 trillion—a historic spike—that he believes will lead the U.S. toward severe financial dependency.
  • The vote's outcome may impact Musk's political influence and business relations with the administration amid his recent public feud with Trump.
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Tesla's boss repeated on Saturday 28 June his attacks on the draft "great and beautiful law" budget that the US president hopes to sign before 4 July.

·Paris, France
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Phil's Stock World broke the news in on Saturday, June 28, 2025.
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