Elon Musk urges Congress to abandon Biden's Build Back Better bill, as it will worsen the situation in the United States and in the country's budget deficit. In addition, he reasonably believes that the federal government should not hinder progress by becoming a “player on the field,” but be a “referee.”
At the Wall Street Journal (WSJ) CEO Council Summit, Tesla and SpaceX CEO Elon Musk argued that the federal government should “get out of the way and not impede progress,” emphasizing that the government should be a “referee” rather than a “player on the field.” He said Congress should “can” President Joe Biden's multi-trillion-dollar Build Back Better Act. “Honestly, I would just can this whole bill,” said Musk. “Don't pass it. That's my recommendation.”
Biden's budget bill includes a $7,500 subsidy for the purchase of electric vehicles. An additional $4,500 for the purchase of electric vehicles has been earmarked for those companies whose cars are created by union workers. Thus, Tesla, which employs tens of thousands of workers in the United States, makes hundreds of thousands of electric vehicles that are the most American made, is ruled out to receive additional purchase subsidies, which underscores government bias.
Tesla car buyers have not received any federal tax subsidies in the past two years. Even in this situation, its introduction of electric vehicles has been very successful. Musk also expressed his opinion that all subsidies should be eliminated, despite the fact that the new bill includes funding to expand the infrastructure for charging electric vehicles in the U.S. “Unnecessary,” he said. “Do we need support for gas stations? We don't. I'm literally saying get rid of all subsidies.”
The U.S. already has a record $3 trillion deficit and the implementation of the Biden bill could backfire. “If this was a company, it would be a $3 trillion loss,” he said, addressing the federal government's level of spending. “This can't keep going.”
Even if the U.S. government “deleted” all billionaires, it still cannot fix the deficit, Musk said. “The government is simply the biggest corporation, with a monopoly on violence and where you have no recourse,” he continued. “It's the only one that's allowed to legally do violence.”
Musk clarified that he is not advocating for having no government at all. “We should minimize what the government does,” he said.
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