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Wall St rally pauses as Tesla drops
Financial Express Ahmedabad
|July 02, 2025
The Republican-led US Senate passed President Trump's sweeping tax and spending Bill, locking in key priorities while adding $3.3 trillion to the national debt. The legislation, a major win for Trump, now returns to the House of Representatives for final approval
DONALD TRUMP THREATENED to withdraw government subsidies from Elon Musk's companies and examine the billionaire's immigration status after the Tesla Inc. chief executive officer ratcheted up his criticism of the president's tax and spending bill.
President Trump wrote on Truth Social that the cost-cutting effort that Musk pitched during Trump's campaign and led for months may now be turned against the leader of Tesla and Space Exploration Technologies Corp., writing that DOGE could take a hard look at US funding for rocket launches, satellites and electric cars.
Musk "may get more subsidy than any human being in history, by far," Trump posted. Without that government support, "Elon would probably have to close up shop and head back home to South Africa."
This story is from the July 02, 2025 edition of Financial Express Ahmedabad.
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