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Tesla shares fell Tuesday as Tesla CEO Elon Musk and President Trump renewed their dispute over the massive Republican spending bill in the Senate.

The electric vehicle company's stock price fell $18.98, or 6%, to $298.50 in morning trade. 

Musk  on Saturday by again criticizing the "big, beautiful bill," which President Trump is urging Congress to pass by July 4. The Tesla founder and CEO wrote on X that the bill would "destroy millions of jobs in America." He also  on Monday that, should the bill pass, he would form a new political party and support primary challenges against any Republicans who voted in favor of the legislation.

President Trump , noting the enormous federal subsidies Musk's various companies receive from the government and suggesting that the Department of Government Efficiency — which Musk led before late May — look into any spending flowing into Musk's empire.

Despite the flare-up, Wedbush technology analyst Dan Ives expects the conflict between Musk and Mr. Trump to die down moving forward. But for now, investors are fretting over whether the Trump administration will "be more hawkish" and "show scrutiny around Musk related US government spending," he said in a research note. 

Musk first this month, calling it "pork-filled" and a "disgusting abomination." His criticisms escalated into a  between the world's  person and Mr. Trump.

Tesla's stock price has fallen roughly 21% this year, with the company's sales and Musk's involvement with the Trump administration alienating in the U.S. The company is set to release its quarterly earnings on Wednesday.