Tue Jul 01 06:55:35 UTC 2025: Here’s a summary of the text and a rewrite as a news article:

**Summary:**

A public feud has erupted between former allies U.S. President Donald Trump and Tesla CEO Elon Musk over a recently passed tax-cut and spending bill. Musk, who previously supported Trump and even led a cost-cutting initiative (DOGE) under his administration, now vehemently opposes the bill, claiming it will balloon the national debt and undo his savings. He has vowed to unseat lawmakers who supported it and called for a new political party. Trump has responded by suggesting his “efficiency Department” (DOGE) should investigate the subsidies Musk’s companies receive, implying that Tesla wouldn’t survive without them. The dispute has caused market volatility for Tesla and raised concerns among Republicans about potential damage to their chances in the upcoming 2026 midterm elections.

**News Article:**

**Trump and Musk Feud Explodes Over Spending Bill, Sparks Market Volatility**

**Washington D.C. – July 1, 2025** – A bitter public dispute has erupted between President Donald Trump and Tesla CEO Elon Musk over a recently enacted tax-cut and spending bill, sending shockwaves through Washington and Wall Street.

The conflict began after Musk, once a strong supporter of Trump and head of his administration’s Department of Government Efficiency (DOGE), publicly criticized the bill, calling it “utterly insane and destructive.” Musk claims the legislation will drastically increase the national debt and negate the cost-cutting measures he implemented during his time leading DOGE. He has vowed to unseat lawmakers who supported the bill, even suggesting the need for a new political party focused on fiscal responsibility.

President Trump retaliated in a post on Truth Social, suggesting that DOGE should investigate the subsidies received by Musk’s companies, implying Tesla would fail without them. “Elon may get more subsidy than any human being in history… Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!” Trump wrote.

Musk responded on X (formerly Twitter), “I am literally saying CUT IT ALL. Now.”

The public spat represents a dramatic shift in the relationship between the two powerful figures. Musk previously spent nearly $300 million on Trump’s re-election campaign and led the controversial DOGE initiative.

The fallout has already had tangible effects. Tesla shares have experienced significant volatility, briefly wiping out $150 billion in market value before recovering. Republican strategists are also reportedly concerned that the feud could harm their chances in the 2026 midterm elections, potentially jeopardizing their majority in Congress.

It remains to be seen how this high-profile feud will impact the political landscape and the future of Tesla, but one thing is certain: the relationship between Trump and Musk has soured dramatically, raising serious questions about the future of their respective endeavors.

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