Bill Fallout Hits Tesla: Hours after the House passed Trump’s “One Big Beautiful Bill,” Tesla stocks plunged 8% as EV subsidies were slashed—sparking Musk’s online tirade and accusations of betrayal.
BY PC Bureau
Once seen as political allies and strategic partners, former U.S. President Donald Trump and billionaire tech mogul Elon Musk have now turned public adversaries, with their feud erupting in full view after the House of Representatives narrowly passed Trump’s sweeping tax and spending bill, dubbed the “One Big Beautiful Bill.”
The rift, simmering for days, spilled into the open after Musk took to his platform X to denounce the legislation, calling it a “disgusting abomination” and urging lawmakers to “Kill the bill.” His post came just hours before the House passed the bill by a razor-thin margin of 215–214 in the early hours of Friday.
Today proved what a big liar Trump is, you can’t believe anything he says. He tried to make Musk out as just sour that the EV rebates were being cut. Musk knew this going in & had said that he was OK with this because he felt that these rebates helped his competition more pic.twitter.com/b5eEWvjWhv
— Michael J. Cox (@totallyfearless) June 5, 2025
Reacting to Musk’s criticism, Trump told reporters, “I’m very disappointed in Elon. He knew every aspect of this bill. He had no problem with it until he realized the EV mandate would be cut—and that’s billions of dollars.” Trump went on to suggest Musk’s opposition stemmed more from financial self-interest than principle, saying, “I’ve helped Elon a lot. He’s now having a kind of Trump derangement syndrome.”
The legislation, a centerpiece of Trump’s economic revival plan, includes massive tax breaks and restructuring of federal spending. Crucially, it scraps subsidies and tax incentives for electric vehicle manufacturers—a move that directly impacts Tesla, which saw its stock plunge more than 8% within hours of the bill’s passage.
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The fallout between the two figures is all the more dramatic given their recent closeness. Musk, a vocal supporter of Trump in the 2024 election, reportedly funneled hundreds of millions into campaign operations. Trump had frequently praised Musk, once calling him “a national treasure.”
But tensions have mounted in recent weeks. Sources say Musk had raised concerns about the bill privately before going public. In his scathing social media post, Musk wrote: “This pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it.”
In response, Trump pointed to Musk’s past praise and accused him of hypocrisy: “If you saw the statements he made about me—it’s all on tape—he said the most beautiful things. Now look at him.”
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The House vote itself unfolded under high drama. Speaker Mike Johnson, facing mounting opposition within GOP ranks, pushed through the bill after last-minute concessions and direct intervention from Trump. Despite internal rifts, enough Republicans ultimately fell in line.
While Trump is celebrating a legislative victory, the political cost may be steep. The public unraveling of his alliance with Musk, the world’s richest man, marks a new chapter in a volatile relationship—with consequences that could ripple through business, politics, and the upcoming election cycle.
