Elon Musk's SpaceX Hits Jackpot Under New Trump Budget Plan

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Source: The Daily Beast

Elon Musk’s SpaceX Hits Jackpot Under New Trump Budget Plan

President Donald Trump’s spending proposal is great news for Elon Musk—while slashing spending nearly everyone else.

Liam Archacki
News Reporter

Updated May 2 2025 4:32PM EDT
Published May 2 2025 2:53PM EDT

President Donald Trump‘s new budget proposal would give SpaceX, Elon Musk‘s rocket company, a huge payday—despite making steep cuts to many areas of government spending.

Trump said in the proposal, sent to Congress Friday, that he wants to make “a down-payment on the development and deployment of a Golden Dome for America, a next-generation missile defense shield” that SpaceX will help build, The New York Times reported.

That project alone could generate billions in federal contracts for the company, the Times observed.

The spending plan also makes Musk’s ambitions to reach Mars a top priority for the government, arguing that “U.S. space dominance” will “strengthen U.S. national security and strategic advantage.”

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Read more: https://www.thedailybeast.com/elon-musks-spacex-hits-jackpot-under-new-trump-budget-plan/

Alternate link: https://www.yahoo.com/news/elon-musk-spacex-hits-jackpot-185349341.html