SAN FRANCISCO (Reuters) – Elon Tesla, Inc CEO said that Congress should reject the Biden administration’s bill to raise subsidies for electric vehicle (EVs) and warned it would increase the nation’s deficit.

A billionaire entrepreneur is raising criticism of Democrats and the administration over a proposed $4,500 tax credit for union-made U.S. electric cars. Tesla and other foreign automakers don’t have unions in their U.S. plants.

Musk told the WSJ CEO Council Summit that it was possible to be more successful if the bill does not pass.

“I am literally saying Get rid of all Subsidies,” he stated, adding that the government should be thinking about how to move forward and get out of his way.

He also said that he was opposed to the Democrats’ proposal to tax billionaires. It is not logical to remove the responsibility of capital allocation from those who are highly skilled and to give it to someone else, such as the government.

Musk stated that Neuralink, his brain-chip company, hopes to conduct human trials in the next year. However this will need approval from the U.S. Food and Drug Administration. I believe we can restore complete body function to someone with a spinal injury using Neuralink.