Elon Musk calls for Congress to throw out Biden's entire Build Back Better bill: 'Don't pass it'

Tesla and SpaceX CEO Elon Musk said Congress should "can" President Joe Biden's multitrillion dollar Build Back Better Act, which Democrats are seeking to pass with budget reconciliation to avoid relying on votes from Republicans.

"Honestly, I would just can this whole bill," said Musk, ranked number two on the 2021 Forbes 400 list of the wealthiest Americans. "Don't pass it. That's my recommendation."

Musk argued that the federal government should "get out of the way and not impede progress," emphasizing that the government ought to be a "referee" rather than a "player on the field."  

"Rules and regulations are immortal," Musk said at the Wall Street Journal's CEO Council event on Thursday evening. "They don't die. The vast majority of rules and regulations live forever ... there's not really an effective garbage collection system for removing rules and regulations, so this hardens the arteries of civilization where you are able to do less and less over time."