Treasury Secretary Scott Bessent commented on the ongoing feud between Tesla Inc. TSLA, Elon Musk and President Donald Trump, suggesting that the conflict is unlikely to affect the passing of a significant bill.
What Happened: In a recent interview with Fox News, Bessent touched on the Musk-Trump clash. “I think if Elon sticks to rockets, I will stick to finance,” he remarked, suggesting that each should concentrate on their respective domains.
Bessent also voiced his support for a bill aimed at reducing the national debt, which recently cleared the Senate thanks to a tie-breaking vote by Vice President JD Vance. “I am confident that this bill is going to pay down the debt and there were 50 senators who weren’t threatened by his words,” he declared.
The finance expert lauded President Trump’s leadership, alongside Leader Thune and Speaker Mike Johnson, in propelling the bill. He is confident they will unite majorities and push the legislation forward. “I think everyone is with President Trump and his leadership going to move this forward more than anybody’s checkbook,” Bessent concluded.
Why It Matters: The ongoing feud between Musk and Trump has been a topic of concern for many, especially as it could potentially impact Tesla’s future. As Tesla’s stock struggles to regain its footing, analysts have warned that the rift could complicate the company’s push into autonomous vehicle regulation.
Despite this, Bessent’s comments suggest that the feud may not have a significant impact on the passing of a crucial bill. The bill, which encompasses tax cuts, reductions in social safety net programs, and increased spending on the armed forces and immigration enforcement, has been a point of contention. It was narrowly passed by the Senate and is now set to move to the House of Representatives for potential final approval.
Despite opposition from some Republicans, Trump aims to sign it into law by the July 4 holiday. This bill’s passing could have significant implications for the country’s financial future, and Bessent’s comments suggest that the feud between Musk and Trump may not be enough to derail its progress.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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