Musk Rages as Trump Tax Bill Slashes Electric Vehicle Credits
Elon Musk slammed the US Senate's latest version of President Donald Trump's multi-trillion dollar tax bill Saturday, raging online that the cuts to electric vehicle and other clean energy credits would be 'incredibly destructive' to the country.
Musk, the chief executive officer of Tesla Inc. and SpaceX, posted on his social media platform X about the bill, which the Senate was planning to put to an initial vote on Saturday. Musk recently left Trump's side after working for several months as the head of Trump's so-called Department of Government Efficiency.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
NC Republican Sen. Thom Tillis says he won't vote for Trump's ‘big beautiful bill'
U.S. Sen. Thom Tillis, a North Carolina Republican, broke with his party Saturday and said he would not support the federal 'One Big Beautiful Bill Act,' the sweeping budget package that would enact much of President Donald Trump's agenda. In a statement, Tillis cited the bill's expected impacts on Medicaid and rural hospitals as key reasons for his decision. 'I did my homework on behalf of North Carolinians, and I cannot support this bill in its current form. It would result in tens of billions of dollars in lost funding for North Carolina, including our hospitals and rural communities,' Tillis' statement read. 'This will force the state to make painful decisions like eliminating Medicaid coverage for hundreds of thousands in the expansion population, and even reducing critical services for those in the traditional Medicaid population.' The Huntersville resident, a former speaker of the state House first elected to the U.S. Senate in 2014, is running for a third term. He has mostly — though not always — avoided publicly breaking with Trump this year. His vote on Trump's top legislative priority is sure to be an issue in 2026, both in a Republican primary election and in a general election against a Democrat. The Senate is set to consider the Trump-backed bill this weekend after releasing it Friday evening. Tillis told reporters he would vote against a procedural measure to advance the bill, as well as the bill itself, NBC News reported. The House approved its own version of the bill last month. The Senate's version of the bill would need to be approved by the House before it heads to Trump's desk. Trump has said he wants the bill finalized by July 4. The key goal of the bill is to cut taxes, as tax breaks approved during Trump's first term expire later this year, the Associated Press reported. The bill would also provide billions of dollars for the president's immigration and border agendas, including deportations. In order to pay for many of the bill's proposals, the AP reported, the measure would enact cuts on several longstanding government programs — including Medicaid. The House's version of the bill included less severe cuts to Medicaid, but would still leave more than 10 million people without health care coverage, the AP reported. That includes more than 260,000 in North Carolina, according to one estimate. In a June 12 letter to Trump, House Speaker Mike Johnson and Senate Majority Leader John Thune — all Republicans — Senate Democrats cited data from the Cecil G. Sheps Center for Health Services Research at UNC-Chapel Hill to show that five rural hospitals in North Carolina could be at risk of closing under the bill's proposed cuts to Medicaid. 'There is a lot for North Carolinians to love about the rest of the One Big Beautiful Bill, including extending the historic Trump Tax Cuts, increasing the child tax credit, providing historic funding for border security, and ending wasteful spending,' Tillis said Saturday. 'We can and must accomplish this without hurting our rural communities and hospitals, and without jeopardizing access to care for hundreds of thousands of North Carolinians who need it the most.' Ken Martin, chair of the Democratic National Committee, told The News & Observer this week that the bill would cost North Carolina billions in federal funding and potentially see hundreds of thousands in the state lose their insurance coverage. 'As it relates to health care access throughout this state ... it's going to be harder for people, particularly in the rural parts of North Carolina to find hospitals and clinics to actually get their health care,' Martin said. Martin also identified Tillis as 'one of the most vulnerable Senate Republicans.' Tillis' counterpart, Sen. Ted Budd, also a North Carolina Republican, said he would vote in favor of the procedural step to move the bill forward to floor debate. 'I support moving to debate on the One Big Beautiful Bill because it includes major reforms to slow the ballooning cost of government programs and root out waste, fraud, and abuse,' Budd said on X. 'There's more work to be done, but I strongly agree with President Trump that we must unleash America's full economic potential.' At the state level, Senate leader Phil Berger, an Eden Republican, said on X Saturday he supports the bill and that 'the legislature will work through any implementation issues.' Politics reporter Kyle Ingram contributed to this report.
Bloomberg
28 minutes ago
- Bloomberg
Taiwan Says ‘Constructive Progress' Made in US Trade Talks
Taiwan said it's made 'constructive progress' in a second round of trade talks with the US, which are aimed at avoiding tariffs imposed by President Donald Trump. 'It is believed that constructive progress has been made in the negotiations so far,' said an official Taiwanese statement on Sunday. The talks were held in recent days in Washington, it said.
CBS News
30 minutes ago
- CBS News
San Francisco's Crane Cove Park playgrounds back on track after nonprofit scandal
After weeks of uncertainty and disappointment, there's finally good news for families in the Dogpatch neighborhood. The long-promised playgrounds and a dog park at Crane Cove Park are finally moving forward, despite a financial scandal that nearly derailed the project. Located at 18th and Illinois Streets near the Chase Center, Crane Cove Park opened in 2020 with plans for two children's play areas and a dedicated dog park. But last month, residents were stunned to learn that most of the private donations meant to fund those amenities had been mismanaged by the San Francisco Parks Alliance, a prominent nonprofit that works closely with the city on public space initiatives. The revelation left many neighbors frustrated and skeptical, including RJ Andrews, a nearby resident and father of two young children. "Initially, it was a reaction of suspicion because it's taken so long to develop," Andrews said. "We were concerned that the fences would go up and nothing would happen." The Parks Alliance had received a $3 million donation from the Baker Street Foundation, a philanthropic group led by board member Nicola Miner and her family, specifically earmarked for the Crane Cove improvements. While nearly $1 million of that was transferred to the Port of San Francisco, the nonprofit admitted that it spent the remainder on its own operating expenses. The disclosure and other concerning financial revelations triggered investigations by both the San Francisco City Attorney and District Attorney. The Parks Alliance has since ceased operations. Despite the setback, the Port of San Francisco has confirmed that construction on the promised amenities is now officially underway. Two playgrounds — one for toddlers, the other for older children — are in progress, along with a fenced dog park. According to Port Communications Director Eric Young, the project is now expected to cost $2.51 million, less than originally projected. With $975,000 already received from the Parks Alliance, the Port plans to fund the remaining $1.54 million internally. "The project is underway," Young said in a written statement. "The Port is reviewing capital budgets to identify where we can reprogram funds to complete the kids and dogs play areas at the park. We are working closely with the City Attorney's Office and city partners to assess our legal and financial options. Staff will return in July to the Port Commission to discuss tradeoffs and next steps as we ensure the park improvements are delivered." Port staff are expected to present the funding source to the commissioners at their July 8 meeting. Miner expressed relief at the update. "I think it's fantastic. I can't believe it. It's amazing that the Port still held strong to its mission," she said. "I am really happy in how San Francisco responded. It was actually better than I expected." For Andrews and his family, including a newborn daughter, the timing couldn't be better. "She'll be maybe one of the first and youngest patrons of the new playgrounds," he said. "Sometimes, dreams do come true." Other residents shared in the optimism. "The fact that there's some more things that are geared toward little ones like Mason is just extremely exciting to us," said local resident Gerry Mudjer, referring to his eight-month-old son. "I think we'll be here a lot more often because of it." "I don't think there's a lot of dog parks in this area generally. There's a beach. They have public access, but [the dogs] don't really have their own specific place to play. So it'll be nice to have a contained area where you know you can let them off leash," added Savannah Schulze, a dog owner. Construction fencing and groundwork are already visible at the site, a promising sign for neighbors who feared the project might be abandoned. The Port hopes to complete the playgrounds and dog park by February 2026, with a possibility of opening as soon as the end of this year.
