Elon Musk on Space Travel

Elon Musk on Space Travel

October 12, 2021 0 By Stephen Callahan

Elon Musk, the founder and CEO of Tesla and Space X, has recently taken a keen interest in space travel. His efforts to realize this dream was confirmed when he led Space X to launch Space X’s Inspiration4 flight into orbit successfully. The vessel had four tourists on board who were on a three-day orbital mission. After the launch, Elon was asked why President Biden hadn’t commented or acknowledged the accomplishment despite a successful launch. Elon went on to mock the president by stating that he was still sleeping.

The launch of Inspiration4 has received several congratulatory messages and tweets from former senator and current NASA administrator Bill Nelson. The tweet read in part, ”Congratulations #Inspiration4! With today’s splashdown, you’ve helped demonstrate that low-Earth orbit is open for business,”. He later tweeted, ”Low-Earth orbit is now more accessible for more people to experience the wonders of space”. Nelson further tweeted that he was looking forward to a future where NASA is one of the many customers in the commercial space market.

Despite not receiving remarks from the president, the Biden administration has supported Elon Musk’s companies. For instance, Space X has several contracts to deliver supplies and even transport astronauts to the International Space Station. His company also received a $2.9 billion contract to build a spacecraft to land astronauts on the moon. However, this deal did not sit well with Blue Origin, one of Space X’s competition; Jeff Bezos, Amazon’s founder, leads the company.

Aside from receiving several government contracts through his Space X company, Elon Musk has benefited from the Biden administration. His company, Tesla, benefited from the recently introduced regulatory tax credits. Tesla mainly deals with the production and sale of Electric Vehicles. This means they have an excess supply of credits. They, in turn, sold these credits to automakers who did not comply with stricter emission rules. These credits are set to increase in value if Biden’s administration decides to impose strict regulations on emission.

Previously Tesla benefited from the $7,500 tax credit to buyers of electric vehicles, a move that allowed Tesla to up the price of their cars. Biden has openly supported restoring the $7,500 tax credit to buyers of electric vehicles regardless of the manufacturer. This move would greatly benefit Tesla. However, to claim the credits, the government will consider the price of the car and the buyer’s income. This means the regulatory tax credits may not apply to all its sales.