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Trump Threatens Subsidy Cuts, Audit of Musk's Companies

UNITED STATES, JUL 3 – Trump targets Elon Musk's Tesla and SpaceX subsidies amid Musk's threats to fund challengers against Republicans supporting a $3.3 trillion tax and spending bill, risking $150 billion in Tesla's market value.

  • On Monday, President Donald Trump proposed that DOGE review subsidies to Elon Musk's companies to cut costs and escalate their feud.
  • In 2025, Musk criticized the $5 trillion debt ceiling increase and vowed to fund opponents of Republican lawmakers supporting the bill, prompting Trump to suggest a subsidy review.
  • A Washington Post analysis shows Musk's companies received $38 million in federal support, while Tesla's market value dropped $150 billion amid regulatory concerns.
  • Following Trump's call to review Musk's subsidies, Tesla shares dropped over 6%, raising GOP fears about midterm prospects.
  • Trump's call to review Musk's companies risks delaying robotaxi tests in Texas and may impact Republican prospects in the 2026 midterm elections.
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Within the framework of the White House offensive against naturalized citizens, the president of the United States slid that he could deport the South African tycoon. In the streaming program of La Tercera, 'From the Editor', the editor of Mundo, Fernando Fuentes, related the discord between the former allies: from Musk's rejection of Trump's tax cut project, to the threat that the government would cut subsidies to the companies of the owner of …

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The Hill broke the news in Washington, United States on Wednesday, December 25, 2024.
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