Musk supports the impeachment of Trump: the beautiful tax law is disgusting; Trump threatens to cut the pump of TSL, causing Tesla's stock price to plummet by 14%.

Musk criticized Trump's "Great Beauty Tax Law" on X as disgusting, and even supported his impeachment. In response, Trump also responded that he was "very disappointed" with Musk and threatened to cancel the contract with Tesla. (Synopsis: Musk sprinkles Trump's "big beautiful tax law": increase the fiscal deficit, waste DOGE efforts) (Background supplement: Trump personally sent the White House badge key: Musk is not really leaving!) Will serve as an "adviser to the president" to assist in reform) The "Great Beauty" tax bill promoted by US President Trump aims to continue the tax cuts in the Tax Cuts and Jobs Act of his first term and add tax incentives for tips, overtime pay and auto loans. However, to offset the fiscal deficit from these tax cuts, the bill plans to eliminate a number of existing tax credits, including a federal tax credit for electric vehicles (EVs), and could increase spending by trillions of dollars. The move sparked strong opposition from Tesla founder Elon Musk. Musk publicly criticized the bill as a "disgusting abomination" on X, accusing it of significantly increasing the U.S. federal deficit and saying it would plunge the U.S. into "debt slavery," creating an unsustainable burden on citizens, and causing the U.S. to enter a recession in the second half of the year. The Trump tariffs will cause a recession in the second half of this year — Elon Musk (@elonmusk) June 5, 2025 Trump expresses disappointment at Musk's criticism Musk also choked: "Without me, Trump would have lost the election long ago, The Democrats have long controlled the House of Representatives..." In response to Musk's criticism of his tax bill, Trump bluntly said that he was "very disappointed" with Musk: Even without Musk, I can win Pennsylvania. I used to help him a lot. Musk's displeasure is purely because the electric car tax credit was canceled. He hasn't said anything bad about me yet, but that will happen soon. Musk knows the inside story of the bill better than almost anyone. Musk retorted: The bill has never been shown to me In response, Musk also quickly responded on the X platform, denying Trump's statement, saying that he had no knowledge of the details of the bill. He wrote: Wrong, this bill has never been shown to me once, and it was passed quickly in the middle of the night, and almost no congressman can read it! At the same time, Musk further said in his interaction with netizens: It is unfair to retain the clause to cut electric vehicles and photovoltaic incentives in the draft, but not to move at all on oil and gas subsidies! Throughout the history of civilization, there has been no legislation that is "both big and beautiful". Either a "big and ugly" bill or a "thin and beautiful" bill, and the latter is the way out. False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it! — Elon Musk (@elonmusk) June 5, 2025 In the discussion of the community, Musk even forwarded a post supporting him to replace Trump, directly expressing support for Trump's impeachment on X. Yes — Elon Musk (@elonmusk) June 5, 2025 Tesla shares plunge 14% In the midst of community verbal battles, Trump also threatened to cancel Musk's federal contract: The easiest way to save billions of dollars is to end Musk's government subsidies and contracts. I've always been surprised that Biden didn't do this! SpaceX and Tesla are known to receive billions of dollars a year from federal government contracts and other projects. Tesla's stock price plummeted, closing down more than 14%. Musk also countered: "In light of the president's announcement about canceling Tesla's government contract, SpaceX will immediately begin retiring its Dragon spacecraft." Currently, SpaceX's Dragon spacecraft is used by NASA to transport astronauts to the International Space Station. In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately pic.twitter.com/NG9sijjkgW — Elon Musk (@elonmusk) June 5, 2025 What is the Great Beauty Tax Act "One Big, Beautiful Bill"? "One Big, Beautiful Bill" is a major 2025 bill by the Trump administration that aims to extend its 2017 tax cuts while adding tax breaks for tips, overtime pay and auto loan interest, and increasing spending on defense and border security. To close the fiscal gap, the bill plans to eliminate clean energy incentives in the Inflation Reduction Act, including a tax credit of up to $7,500 for electric vehicles. The credit was originally scheduled to expire in 2032, but the new bill brings it forward to end on December 31, 2025, specifically targeting manufacturers that have sold more than 200,000 electric vehicles, such as Tesla, General Motors and Toyota. In addition, the bill imposes a $250 annual fee on electric vehicles and ends tax incentives for home solar and battery storage, threatening Tesla's energy businesses such as Megapack and Powerwall. In response, JPMorgan analysts estimate that the elimination of the $7,500 electric vehicle tax credit will cost Tesla about $1.2 billion in profits in 2025 and 2026, as consumer purchase costs actually increase, which may affect demand for Tesla vehicles. In addition, the bill terminates the sale of zero-emission vehicle (ZEV) credits to the California Air Resources Board (CARB), potentially costing Tesla an additional potential of about $2 billion. Related reports Musk announced XChat, what is "Bitcoin-style" encrypted communication? Musk is leaving tonight! Officially left the DOGE department, the focus returned to Tesla, SpaceX, and fell out with the Trump brotherhood? Telegram received $300 million in cash and equity from xAI, Musk threw money to push Grok, TON jumped 20% (Musk impeached Trump: The big beautiful tax law is disgusting; Trump threatens to cut Tesla's lifeline, Tesla's stock price plunges 14%〉This article...