Here are the key quotes to understand how the past 24 hours (and counting) unfolded between the president and Elon Musk over the Big, Beautiful Bill.

Elon Musk’s feud with President Donald Trump has reignited, with the tech billionaire threatening to launch a new political party and Trump suggesting Musk could be punished for his opposition.

The feud reignited on Monday when Musk, who spent hundreds of millions on Trump's re-election, renewed his criticism of Trump's tax-cut and spending bill, which would eliminate subsidies for electric vehicle purchases that have benefited Tesla, the leading U.S. EV maker. That bill passed the Senate by a narrow margin midday Tuesday.