Elon Musk claims that the most recent iteration of Trump’s budget draft is “completely crazy” and will devastate the clean energy industry.

The latest iteration of US President Donald Trump’s tax and spending bill has drawn criticism from tech billionaire Elon Musk, who described it as “utterly insane and destructive.” Musk attacked politicians in a post on his social media platform X, claiming that the Senate’s latest draft plan will result in the loss of millions of American jobs and “immense strategic harm” to the nation. He went on to say that the law will “severely damage” future companies while providing millions of dollars in subsidies to “outdated industries.” The criticism from the founder of SpaceX Corp. and Tesla Inc. may rekindle a public dispute with Trump that began last month when he resigned from the Department of Government Efficiency, the White House’s government cost-cutting team.

The most recent version of the bill, which requires the support of both the Senate and Congress to become law, will give incentives to the coal industry while decreasing funding for renewable energy projects that use solar and wind energy as well as electric vehicle tax credits.

Previous iterations of the law have drawn criticism from Musk. When he voiced his displeasure with the government’s budget plans in December, many Republicans withdrew their support, nearly resulting in a government shutdown. Since he was the largest contributor to Trump’s reelection campaign, the billionaire Musk had greater clout at the time and was still seen as one of his closest supporters. However, since leaving DOGE and arguing with Trump over a previous draft of the law that was approved by Congress in May, it is believed that he has much less influence now. Musk’s criticism of the plan, calling it a “disgusting abomination” and claiming it would cause the government debt to soar, garnered media attention.

When the plan is put to a vote in the Senate, which may happen as soon as Saturday, it may be difficult for it to pass because several Republicans who lean conservative on money seemed to agree with Musk’s most recent statements. Musk listed numerous grievances he had with the measure in a series of postings on X, including the claim that Trump is committing a “massive strategic error” that will harm the solar and battery businesses and “leave Americans extremely vulnerable in the future.” Additionally, he retweeted polls showing the bill’s low level of support among American voters:

Musk is especially concerned about the bill’s termination of tax credits that encourage the purchase of new electric vehicles beyond September 30. The tax benefits for buying commercial electric vehicles and old cars will also run out at the same time. The measure will also impose a new tax on wind and solar projects that are finished after December 31, 2027, if they are unable to prove that they have not utilized any Chinese components, according to Reuters. Additionally, it provides tax benefits to businesses who produce coal. The package also speeds up the phase-out of tax subsidies for clean energy manufacturing, which have historically drawn billions of dollars in investment, particularly in Republican regions.

Several clean energy advocates and environmental organizations joined Musk in criticizing the updated bill, claiming it will ultimately increase household energy bills and deny the nation access to new, rapid energy capacity that could be essential as more power-hungry AI data centers go online. Trump, however, defended the elimination of tax incentives for clean energy projects by claiming that they are no longer in need of government assistance. Tom Pyle, head of the American Energy Alliance, backed him, saying that “perhaps their industry shouldn’t exist at all if repealing these subsidies will ‘kill’ it.”

Musk has warned Republicans who support the plan that he will fund primary opponents. Trump and the richest man in the world have been linked in the past, but White House officials stated Thursday that the president has no immediate plans to speak with him.