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Elon Musk Escalates Criticism of Biden’s EV Bill and Tax Proposal



SAN FRANCISCO – Tesla CEO Elon Musk on Monday said the US Congress should not pass a Biden administration bill to increase subsidies for tram (EVs), said that the proposal would exacerbate the country’s budget deficit.

The billionaire businessman is escalating criticism of the administration and Democrats for his proposal to give all-electric vehicles made in the United States an additional $4,500 tax incentive. Tesla and foreign automakers do not have unions at their factories in the US.

“Honestly, it would have been better if the bill hadn’t been passed,” Musk said at the WSJ CEO Council Summit.

“Literally I’m saying get rid of all the subsidies,” he said, adding that “the government should I think just try to get out of the way and not stand in the way of progress.”

He also reiterated his opposition to the Democratic Party’s proposal to tax billionaires. “It doesn’t make sense to take the job of allocating capital from people who have demonstrated great skill … and give it to, you know, an entity that has demonstrated very poor capital allocation skills, that’s the government.”

Musk also said his brain chip startup Neuralink hopes to begin human trials next year pending approval from the US Food and Drug Administration. “I think we have an opportunity with Neuralink in terms of whole-body rehabilitation for someone with a spinal cord injury.”

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