'Utterly Insane And Destructive': Elon Musk Strongly Reacts To Latest Senate Draft Bill

(MENAFN- Live Mint) Elon Musk has called the latest Senate draft bill that raises taxes on wind and solar projects“utterly insane and destructive.” Sharing an X post, Musk wrote, "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future."
Billionaire Elon Musk criticized the latest version of President Donald Trump's tax and spending bill released by the U.S. Senate, which potentially reopens the floodgate of controversy between the billionaire and the US President, which had seen a major escalation over the past few weeks.

The post shared by Musk was of Jesse D. Jenkins, a Macro-energy systems engineering, optimization, and policy professor at Princeton Engineering, according to the X account. The post reads,“The new Senate draft raises taxes on all wind and solar projects that haven't begun construction today unless they are placed in service by the end of 2027 and navigate complex, likely unworkable requirements to prove they don't use a drop of Chinese materials. After that, this bill ADDS A NEW tax on wind and solar projects that can't prove the same.”
Trump and Musk have not been on great terms over the past few weeks and have taken their feud public. For the past few days, the rift appeared to have subsided, but the floodgates apparently have reopened, with Musk openly criticizing the Trump administration's bill that proposes the implementation of taxes on wind and solar projects that haven't begun construction yet.
The Senate bill promises to codify a major set of Donald Trump's campaign promises, including extensions for his 2017 tax cuts, such as lower income-tax brackets, higher standard deductions, a bigger child tax credit, and other provisions, according to an NBC report.

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The Senate bill will also reportedly include new policy proposals, including the likes of tax breaks for auto loans, tip income, overtime payments, and more. Social Security-related policies are also a crucial part of the bill.

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