“Honestly, I would just can this whole bill,” Musk said Monday.
Tesla CEO Elon Musk said he’s against President Joe Biden’s social and climate spending bill, pointing to his concerns about the “insane” federal deficit. “Honestly, I would just can this whole bill,” Musk said late Monday during The Wall Street Journal’s CEO Council Summit. “Don’t pass it, that’s my recommendation.” The Build Back Better Act, which has passed in the House but has yet to go to the Senate, includes tax incentives of up to $12,500 for vehicles built by autoworker union members to spur consumer demand in electric vehicles. The Biden administration’s efforts would reinstate a $7,500 federal credit for Tesla, which doesn’t have union workers building cars, once again giving Tesla the same credits that many other automakers are still eligible for. But Tesla has been operating without the standard $7,500 for nearly two years now and is doing just fine, Musk said. The Build Back Better Act follows Biden’s infrastructure bill, which was signed into law last month.
