US President Joe Biden's spending bill has once again come under criticism. This time, it was Elon Musk who expressed his dissatisfaction. The CEO of Tesla has spoken out strongly against the huge waste of budget money.
At the Wall Street Journal’s CEO Council Summit, Musk said the US did not need President Joe Biden's Build Back Better spending bill. He also added that the electric car industry would do without government subsidies. The main cause for criticism remains the amount of stimulus funding, which stands at $2 trillion. The bill has already been called historic. Many experts believe that such "great deeds" will significantly increase the burden on the budget, which is already under pressure. “The federal budget deficit is insane. Don’t pass it, that’s my recommendation,” the billionaire said.
Meanwhile, Musk's companies have been actively benefiting from various federal and state subsidies over the years. Moreover, the US government is the biggest customer of SpaceX Corporation. It has also helped Tesla achieve great success in China. Recently, however, the US has shown less interest in Musk's companies. The White House did not invite Tesla representatives to a summit on electric vehicles in August. That is why its CEO said Biden and his administration were biased. Tesla is also rarely mentioned in Biden's programs to develop the electric car industry in the US.
