Elon Musk has voiced his strong disapproval of President Donald Trump's controversial tax and spending legislation, referring to it as a disgusting abomination in a recent post on X, the social media platform he owns. The bill, which has garnered significant attention, includes multi-trillion dollar tax breaks and a substantial increase in defense spending while allowing the US government to borrow more money. It was passed by the House of Representatives in May and has sparked intense debate across the political spectrum.
In his posts, Musk criticized those who voted in favor of the bill, stating they are misguided. Having previously served as the head of the Department of Government Efficiency (Doge) until May 31, Musk expressed disappointment in the legislation, believing it undermines the cost-cutting efforts he championed during his tenure. Despite Doge not being a cabinet-level agency, Musk's insights carry weight, particularly among his followers and in the tech community.
The bill’s current structure is projected to increase the budget deficit—defined as the gap between government spending and revenue—by an estimated $600 billion (£444 billion) in the upcoming fiscal year. Musk has warned that the bill, laden with what he calls outrageous pork-barrel spending, could balloon the deficit to a staggering $2.5 trillion. This situation, he argues, would leave American citizens burdened with unsustainable debt.
In response to Musk's critical remarks, White House Press Secretary Karoline Leavitt reaffirmed the President's support for the legislation, describing it as one big, beautiful bill. Her comments highlight the administration's commitment to the bill, which also aims to extend tax cuts from Trump's initial term in 2017 and allocate funds for defense and immigration enforcement.
The tax and spending bill has faced significant opposition within the Republican Party, with divisions emerging as it moves to the Senate. Senator Rand Paul of Kentucky has publicly stated he will not support the bill if it includes provisions to raise the debt ceiling. His comments reflect the growing concerns among fiscal conservatives about the implications of the legislation. Trump responded to Paul's criticisms with a series of fiery social media posts, challenging the senator's understanding of the bill and asserting that Kentuckians disapprove of him.
The Republican Party, along with Trump, has set a deadline of July 4 for the passage and signing of the bill into law. Musk's outspoken criticism and the rift between him and Trump signal a potential fracture in their previously allied relationship. Musk's financial support during the last election cycle, exceeding $250 million, indicates the significant influence he wields in political circles, raising questions about the future of such alliances as fiscal debates heat up.
In a bid to appease fiscal conservatives, Trump is reportedly advocating for a spending reduction plan of $9 billion, purportedly based on the initiatives developed by Doge. This move may be an attempt to reconcile differing factions within the party while pushing forward with his ambitious legislative agenda.
