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ArcticStones's avatar

FOLLOW THE MONEY: Why Musk killed the bill

Democrat Rosa DeLauro (CT-03) has accused Elon Musk of pushing Speaker Mike Johnson to kill the initial bipartisan spending proposal that was agreed to – precisely because it would have imposed new regulations on his considerable investments in China.

Tesla’s gigafactory in Shanghai accounts for half of its worldwide car production. In addition, Chinese factories produce over 90 percent of the parts for Tesla cars. Moreover, Tesla has roughly 300 stores throughout China.

https://thehill.com/business/5051709-musk-delauro-spending-bill-china/

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Toiler On the Sea's avatar

Axing the revenge porn and cancer research is disgusting, but on its face (I don't know the details) I think enabling American investment in China is good policy for a variety of reasons (the Chinese have clearly set their sights on investing/buying property in the U.S.)

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ArcticStones's avatar

If DeLauro is correct, and Musk’s objections to new regulations on investments in China was his reason for manipulating the House to kill this bill – and having the power to do so! – then I would say that is worrisome in the extreme.

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