Elon Musk blasted new electric vehicle incentives and infrastructure in a massive spending bill endorsed by Joe Biden, saying if he had the authority, he would “delete” the provisions and even scrap the entire program. “I could just cancel this whole thing,” Musk, the founder of the electric vehicle firm Tesla, said if he were in control of the federal government. That is my suggestion.” “It could be better if the law doesn’t pass because we’ve spent so much money, you know, it’s the federal budget deficit is absurd,” the entrepreneur said at a Wall Street Journal conference.
The roughly $2 trillion reconciliation package, known as the Build Back Better bill, bears the brunt of Biden’s agenda across a wide range of policy sectors and has been heralded as the largest, and probably first, piece of climate legislation in US history. The law approved the House of Representatives last month, and Democrats are hopeful that it will make it through the Senate before the holidays.
The funding contains considerable incentives for Americans to abandon polluting vehicles in favor of electric vehicles, including a tax rebate of up to $12,500 for everyone purchasing a zero-emission vehicle. There is also money set aside to help the president achieve his objective of installing 500,000 additional electric vehicle charging points across the country.
Despite the fact that Musk runs the world’s largest electric vehicle manufacturer, he believes these requirements are “unnecessary.” “Do we need federal subsidies for gas stations?” he added. We don’t have any. So, there’s no need for this, in terms of charging network support. I’d get rid of it. Delete.” Musk, who became the very first person to possess a net worth of more than $300 billion in October, also criticized the bill’s funding for public transportation, which is seen as an essential way to reduce US emissions, instead emphasizing the need to construct more roads, albeit underground.
“In congested cities, we’ve got to do something about severe traffic, which is a mix of double-deckering freeways as well as building tunnels,” said Musk, who, in addition to operating a car company, founded the Boring Company, which builds tunnels. Critics quickly pointed out that Musk has profited from billions of dollars in form of government subsidies to get his various businesses off the ground, with Tesla profiting handsomely from a California-based zero-emissions credit system.
Musk’s opposition to the $12,500 tax credit could be due to the fact that it only applies to electric cars manufactured in the United States by union workers. Tesla is not a unionized company. Other non-union automakers, such as Toyota, Volkswagen, and BMW, have urged lawmakers to repeal the “discriminatory” incentive, and the Mexican government has also objected to the American-made rule.