Billionaire Elon Musk took to X, previously Twitter, to unleash a scathing criticism of President Donald Trump’s new spending and tax invoice.
“I’m sorry, however I simply can’t stand it anymore. This huge, outrageous, pork-filled Congressional spending invoice is a disgusting abomination. Disgrace on those that voted for it: you understand you probably did flawed. You already know it,” Musk posted.
His remarks got here days after stepping down from a short-lived put up in Trump’s administration main a federal spending reform initiative below the Division of Authorities Effectivity (DOGE). Tesla has seen a drop in EV gross sales, a blow attributed to Musk’s affiliation with Trump’s controversial insurance policies.
Speaker Johnson hits again: “Elon is very flawed”
Home Speaker Mike Johnson hit again at Musk’s criticism, calling it “very disappointing.” “With all due respect, my good friend Elon is very flawed in regards to the one huge stunning invoice,” stated Johnson, who claimed to have spoken with Musk for greater than 20 minutes.
White Home: “President is aware of the place Musk stands”
Press Secretary Karoline Leavitt downplayed Musk’s remarks, indicating they might not sway the administration’s course. “The President already is aware of the place Elon Musk stood on this invoice. It doesn’t change the president’s opinion. That is one huge, stunning invoice and he’s sticking to it,” she stated.
Musk: “Massive or stunning, not each”
Elon Musk simply days earlier voiced criticism of Trump’s tax and spending invoice, warning it may worsen the federal deficit and derail cost-cutting efforts by the Division of Authorities Effectivity (DOGE), which he briefly led.
“I feel a invoice may be huge or it may very well be stunning. However I do not know if it may very well be each,” Musk stated in an interview with CBS.
“It will increase the price range deficit and undermines the work that the DOGE staff is doing.”
Trump’s July 4 deadline
The invoice narrowly handed the Home final week and is now headed for a tricky vote within the Senate. Trump is urging swift Senate motion to get the laws on his desk by Independence Day. “Passing THE ONE, BIG, BEAUTIFUL BILL is a Historic Alternative to show our Nation round,” Trump posted.
He added: “Work as quick as they’ll to get this Invoice to MY DESK earlier than the Fourth of JULY.”
He has been holding closed-door conferences with Senate GOP leaders and making private calls to particular person senators to push the invoice ahead.
Invoice’s scope: $4 trillion in tax cuts, deep spending cuts
The Home-passed invoice is projected to cut back federal income by $4 trillion over 10 years and improve the deficit by $2.5 trillion. It extends 2017 tax cuts and provides new ones — together with eliminating taxes on suggestions — whereas slashing safety-net applications like Medicaid and meals stamps.
- Phases out Biden-era tax breaks for electrical autos and inexperienced vitality
- Allocates $350 billion for border safety and deportations
- Raises the debt ceiling by $4 trillion
- Imposes work necessities for safety-net recipients
- An estimated 8.6 million may lose well being protection, and practically 4 million could lose meals help.
Democrats hit again: “Tax breaks for the ultra-wealthy”
Senate Majority Chief Chuck Schumer referred to as the proposal “ugly to its very core,” aligning with Musk’s criticism.
“Behind the smoke and mirrors lies a merciless and draconian reality: tax breaks for the ultra-wealthy paid for by gutting well being take care of hundreds of thousands of Individuals,” Schumer stated.
Rand Paul resists: “I can’t in good conscience”
Senator Rand Paul has emerged as a key GOP holdout, objecting to the $4 trillion debt ceiling hike included within the invoice.
“Rand votes NO on the whole lot, however by no means has any sensible or constructive concepts. His concepts are literally loopy (losers!),” Trump posted on Reality Social.
Paul responded: “I just like the president, supported the president. However I can’t in good conscience quit each precept that I stand for and each precept that I used to be elected upon.”
Treasury warns of impending default
Treasury Secretary Scott Bessent has warned that with out a debt ceiling improve by mid-July or early August, the US will run out of cash to pay its obligations.
Senate modifications on the desk
Lawmakers are debating potential tweaks to the Home model, together with:
- Revising the proposed $40,000 SALT cap
- Reconsidering the $35 Medicaid copay
- Reinstating supplier taxes essential for rural hospitals
The Senate is predicted to vote narrowly, mirroring the one-vote margin within the Home.
With a July 4th deadline looming, Trump’s “huge, stunning invoice” faces fierce resistance—from Democrats, coverage consultants, and even one-time allies like Elon Musk.
