Tesla remains Musk’s best-known business, but its fortunes are less directly tied to the government than SpaceX, his rocket-building company.

U.S. Senate Republicans passed President Donald Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $3.3 trillion to the national debt.

President Donald Trump and Elon Musk are still feuding, much to the chagrin of Tesla investors. Tesla stock dropped as much as 8% on Tuesday as traders digested a new Truth Social post from Trump, which highlighted how much assistance Musk has gotten from the US government.