Tesla remains Musk’s best-known business, but its fortunes are less directly tied to the government than SpaceX, his rocket-building company.

U.S. Senate Republicans passed President Donald Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $3.3 trillion to the national debt.

The share prices for Tesla stock tumbled on Tuesday after President Donald Trump suggested the federal government might end its electric vehicle subsidies and deport owner Elon Musk.