Sen. Ed Markey (D-Mass.) isn't letting Elon Musk off the hook when it comes to government subsidies. After Musk tried to downplay the role of federal incentives in the success of Tesla (TSLA) and SpaceX, Markey pulled out a weapon from the archives: an old Truth Social post from President Donald Trump.

Here's the backstory. On Sunday, Musk posted on X that federal subsidies accounted for less than 2% of the value of Tesla and SpaceX. He also claimed that those subsidies and incentives actually helped competitors more than his own companies. It was a classic Musk defense: we succeeded despite the handouts, not because of them.

Markey wasn't buying it. He shared a screenshot of a Trump post from the past, in which Trump declared that Musk got more subsidies than "any human being in history." Trump went further, saying that without those incentives, the trillionaire would have to "close up shop" and move back to South Africa.

"For all those wondering why Elon is scared of this conversation," Markey wrote, attaching the screenshot.

The exchange highlights a tension that's been simmering for years. Musk's companies have benefited from a range of government programs—from electric vehicle tax credits to NASA contracts for SpaceX. Musk tends to emphasize his own ingenuity and risk-taking, while critics point to the public dollars that helped pave the way.

Musk's latest defense came in response to broader questions about the role of subsidies in his empire. He argued that Tesla's sales actually grew after the $7,500 federal EV credit expired at the end of September 2025. "Tesla sales actually INCREASED, because more buyers shifted from other EV makers to Tesla," he said.

There's some data to back him up. According to Cox Automotive, U.S. EV sales could hit 85,000 units in May, the highest since the credit ended. The average EV transaction price also fell 4% year-over-year to $54,532, which may have helped attract more buyers.

But Markey's point—and Trump's old post—is that the subsidies were a big part of getting Tesla and SpaceX off the ground in the first place. Whether or not they're still crucial today, the argument goes, the companies might not exist in their current form without them.

As for Tesla's stock, it was down 0.08% to $406.10 in after-hours trading on Friday. According to market data, Tesla scores well on growth and quality metrics, with favorable price trends in both the short and long term.

So, is Musk scared of this conversation? Markey seems to think so. But with Tesla sales rising and SpaceX launching rockets, Musk probably isn't losing sleep over it.