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Elon Musk opposes Biden’s social spending and climate change bill

Tesla CEO Elon Musk makes a gesture at Tesla’s Chinese Model 3 delivery ceremony in Shanghai.

STR | AFP | Getty Images

Tesla CEO Elon Musk said he was against President Joe Biden’s spending bill, pointing out concerns about the “insane” federal deficit.

“Honestly, I’ll be able to implement the entire bill,” Musk said late Monday at the Wall Street Journal CEO Council Summit. “Don’t pass it, it’s my recommendation.”

The Build Back Better Act, passed by the House of Representatives but not yet submitted to the Senate, provides tax incentives of up to $ 12,500 for vehicles manufactured by members of the Automobile Trade Union to stimulate consumer demand for electric vehicles. is included. The Biden administration’s efforts will revive Tesla’s $ 7,500 federal credit, which has no union workers to build cars, and will give Tesla the same credits that many other car makers are still eligible for. But Tesla has been running well for almost two years without the standard $ 7,500, Musk said.

The Build Back Better Act is behind Biden’s infrastructure bill, which was signed last month. This includes $ 7.5 billion to build electric vehicle charging stations nationwide. Musk also added on Monday that no government funding was needed to charge the EV.

“Do you need gas station support? No,” Musk said. “Therefore, we don’t need charging network support. We’ll remove it. We’re literally saying we’re going to get rid of all subsidies, as well as oil and gas subsidies.”

Mr Musk said the government should act as a sports referee, not as a field player. Still, he acknowledged that some infrastructure, such as airports and highways, could use the improvements.

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Elon Musk opposes Biden’s social spending and climate change bill

Source link Elon Musk opposes Biden’s social spending and climate change bill

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