Tesla: Sudden termination of energy tax credits may harm grid reliability, opposing the removal of energy tax credits proposed in Trump’s new bill.

Tesla: Sudden termination of energy tax credits may harm grid reliability, opposing the removal of energy tax credits proposed in Trump’s new bill.

Elon Musk, the CEO of Tesla, has publicly voiced his displeasure with President Donald Trump's new tax and spending bill, according to Politico. In an interview excerpt set to air on CBS Sunday Morning, Musk criticized the bill for increasing the deficit and undermining the work of the Department of Government Efficiency (DOGE), which he oversees. The DOGE team has been tasked with reducing the U.S. budget by $160 billion through cuts and job eliminations.

Musk's comments could potentially impact the bill's prospects in the Senate, where it faces challenges from both sides of the aisle. Sen. Ron Johnson, R-Wisconsin, has called for further budget cuts, while some Republican legislators support aspects of the Biden administration's Inflation Reduction Act tax credits and do not want them eliminated.

The Tesla CEO's stance on the bill is significant as it pertains to energy tax credits, which are crucial for grid reliability. Musk's opposition to the removal of these credits could influence the legislative process and impact the bill's final form. His comments highlight the potential economic and environmental implications of the proposed changes, underscoring the need for balanced and informed policy decisions.

References:
[1] https://www.newsmax.com/finance/streettalk/elon-musk-trump-tax/2025/05/28/id/1212591/