Tesla tumbles as Trump says Doge should look at Elon Musk's subsidies and Senator Lummis seeks to add a crypto tax provision to the big beautiful bill.

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Tesla shares tumbled this morning after President Donald Trump said in a social media post yesterday

that the federal government should look into cutting subsidies for Elon Musk's companies.

In the post on Truth Social, the president said, quote, Elon may get more subsidy than any human being in history by far.

And without subsidies, Elon would probably have to close up shop and head back home to South

Africa.

The post went on to suggest that Doge, which stands for the Department of Government Efficiency,

should take a look at Musk's companies' subsidies.

Musk has been critical of Trump's tax and spending bill that is currently making its way

through Congress.

Tesla stock was trading at around $295 this morning, down more than 6% on the day.

Speaking of the big, beautiful bill, Senator Cynthia Lummis is seeking to include a significant

crypto tax provision into the bill that backs much as President Donald Trump's agenda.

The senator from Wyoming is

proposing to waive taxes on small crypto transactions below $300, which could be a relief for

minors and stakers who are currently getting hit by taxes twice on both the front end and back end

of activity. The amendment pushed by Lummis, which hasn't yet come up for a vote, also addresses

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