California Governor Gavin Newsom has responded to Elon Musk with a lighthearted jab, introducing a fictional $1 trillion bill featuring himself and Musk.
The $1 Trillion Bill
The tongue-in-cheek introduction of the $1 trillion bill was made on social media, where Newsom’s press office handle shared a post highlighting the importance of California to Musk’s success. The post claimed that Musk’s companies, including Tesla and SpaceX, owe their success to California’s subsidies, corporate incentives, talent pool, and manufacturing base.
Background
Newsom and Musk have a history of disagreements, with Newsom previously calling Musk one of his biggest disappointments and crediting California’s favorable regulatory environment for Musk’s success. Musk, on the other hand, has criticized Newsom over various issues, including the proposed California High-Speed Railway and a proposed tax on billionaire residents.
Trump Administration’s $250 Bill Proposal
The exchange between Newsom and Musk comes as the Trump administration has proposed introducing a $250 bill featuring a portrait of President Donald Trump. The proposal is currently making its way through the House of Representatives, with Treasury Secretary Scott Bessent stating that the Treasury is preparing for the possibility of the bill being passed.
Details of the Proposal
The bill, introduced by Rep. Joe Wilson (R-SC), aims to amend the Federal Reserve Act to require the Secretary of the Treasury to print $250 Federal reserve notes featuring a portrait of Donald J. Trump. The proposal has sparked controversy, with some critics arguing that it is inappropriate to feature a living person on currency.
Public Reaction
The proposal has come at a time when President Trump’s approval rating has fallen to a record low of 39%, according to a recent poll. The rating is a new low for Trump since his second term at the White House began in January 2025.
Conclusion
The introduction of the fictional $1 trillion bill by Newsom’s press office has added a lighthearted touch to the ongoing disagreements between Newsom and Musk. However, the proposal to introduce a $250 bill featuring President Trump remains a contentious issue, with many critics arguing that it is inappropriate and unnecessary.