Trump threatens to re-examine government support for Elon Musk's companies as he trashes GOP megabill

NBC News

a day ago

WASHINGTON — President Donald Trump threatened to sic the Department of Government Efficiency on Elon Musk's businesses, saying in a Truth Social post shortly after midnight that there was "big money to be saved."
"Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump said in the post."No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE."
"Perhaps we should have DOGE take a good, hard, look at this?" the president added.
A spokesperson for the Musk-backed America PAC did not immediately respond to a request for comment. In the hours after Trump's post, Musk reposted several graphics on X depicting a climbing national debt, which currently sits at more than $36 trillion, according to government data.
Trump's post marks the latest blow-up in the feud between the president and the tech mogul, who spearheaded government cost-cutting efforts at DOGE before leaving his special government employee post in May. The public split is a steep downfall from their previously close-knit relationship, which saw Musk spend at least an estimated $250 million to help elect Trump.
In the hours before Trump's post, Musk repeatedly slammed the so-called "big, beautiful bill," ultimately suggesting a new political party be launched if the legislation passes.
"If this insane spending bill passes, the America Party will be formed the next day," Musk wrote in a post to X. "Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE."
In another post, Musk said that lawmakers who vote for the bill "will lose their primary next year if it is the last thing I do on this Earth." In a yet another post, Musk shared a graphic depicting Pinocchio sitting in flames, with the word 'LIAR' emblazoned across the picture alongside a message about voting to raise U.S. debt.
'Anyone who campaigned on the PROMISE of REDUCING SPENDING , but continues to vote on the BIGGEST DEBT ceiling increase in HISTORY will see their face on this poster in the primary next year,' Musk said in the post.
Two of Musk's companies — SpaceX and Tesla — have U.S. government contracts or benefit from subsidies, though it is unclear exactly how much the benefits are worth. The Washington Post has reported that Musk's businesses have received at least $38 billion in various government benefits, credits and contracts.
Days after leaving his White House position, Musk unloaded publicly to criticize the so-called "big, beautiful bill," blasting it as a "massive, outrageous, pork-filled Congressional spending bill" that was a "disgusting abomination." He slammed the bill's projected impact on the federal deficit, arguing that it would "burden American citizens with crushingly unsustainable debt."
Musk and Trump traded scathing missives on social media in early June. Trump has previously threatened to end government contracts with Musk's companies, saying during their June fallout that "the easiest way to save money" would be to "terminate Elon's Governmental Subsidies and Contracts."
Musk renewed attacks on the Trump-backed bill last week, which came at a vulnerable moment for congressional Republicans who are trying to send the bill to the president's desk by a self-imposed July 4 deadline. Republicans have slim margins in the House and Senate, and a handful of lawmakers have expressed discomfort with the bill's impact on the deficit and Medicaid.
The Senate continued to vote on amendments to the bill overnight. The bill must be passed again by the House before heading to Trump for his signature.
An analysis by the nonpartisan Congressional Budget Office indicated that the Senate bill, if passed in its current form, would increase the national debt by $3.3 trillion over the next 10 years. The CBO also estimated that during the same period, nearly 12 million people would lose their health insurance largely because of the bill's Medicaid cuts.