Electric vehicles are expected to take a hit under the existing reconciliation budget proposal, but that isn’t the only provision that would seemingly hurt Elon Musk and his business if passed as written.

President Donald Trump lashed out on Thursday against Elon Musk, saying he was "disappointed" by the billionaire's public opposition to the sweeping tax-cut and spending bill that is at the heart of Trump's agenda.

Tesla stock extended declines from earlier in the week as Trump and Musk traded words over the GOP budget bill, which Musk has described as an "abomination."