Elon Musk Slams Trump's 'Big Beautiful Bill' as Fiscal Catastrophe

WASHINGTON D.C. — A rare and public political split emerged this week between House Speaker Mike Johnson and billionaire entrepreneur Elon Musk over President Donald Trump’s flagship tax and spending legislation, revealing tensions within the Republican Party as the bill moves to the Senate for consideration.

The legislation, dubbed the “One Big Beautiful Bill Act,” passed the U.S. House in May with only Republican votes and a razor-thin margin. It proposes an extension of Trump-era tax cuts, a boost in defense and immigration enforcement spending, and cuts to safety net programs such as Medicaid and SNAP. The nonpartisan Congressional Budget Office (CBO) estimated the plan would increase the federal deficit by roughly $2.4 trillion over the next decade and lead to 10.9 million more uninsured Americans by 2034.

Musk, a prominent Trump ally and donor who contributed more than $250 million to support Trump’s 2024 campaign, broke ranks on June 3 by calling the bill “a disgusting abomination” on his social platform X. “Shame on those who voted for it,” Musk wrote. “You know you did wrong. You know it.”

The Tesla and SpaceX CEO’s criticism focuses on the bill’s projected cost and impact on government debt. He echoed concerns voiced by fiscally conservative lawmakers and economists who argue that adding trillions to the national deficit is reckless. Musk also warned of political consequences, pledging to back primary challenges against GOP lawmakers who voted in favor of the measure.

Among the bill’s provisions are changes that could directly affect Musk’s companies. Analysts suggest Tesla could lose over $3 billion due to a rollback of electric vehicle tax credits and clean energy incentives. While Musk did not cite this as a reason for his opposition, the overlap between his business interests and the bill’s impact remains part of the broader debate.

House Speaker Mike Johnson responded to Musk’s remarks on June 4, expressing surprise and rejecting the billionaire’s assessment. “It surprised me, frankly, and I don't take it personal,” Johnson told reporters at the Capitol. “Policy differences are not personal. I think he's flat wrong. I think he's way off on this, and I've told him as much.”

Johnson said the two had parted on good terms following Musk’s recent departure from the Trump administration as head of the Department of Government Efficiency. “He did a 180,” Johnson noted. He defended the bill’s contents and rejected the CBO’s deficit projection, a position echoed by the White House.

Press Secretary Karoline Leavitt dismissed both the CBO’s analysis and Musk’s concerns, labeling the budget office partisan and insisting the administration’s economic projections are more accurate. “This is one big, beautiful bill and he’s sticking to it,” Leavitt said of Trump.

Meanwhile, the bill faces scrutiny in the Senate. Key Republicans, including Senators Rand Paul and Ron Johenson, have voiced opposition to the bill’s cost. “I agree with Elon,” Paul tweeted. “We have both seen the massive waste in government spending and we know another $5 trillion in debt is a huge mistake.”

Trump and GOP leaders have set a self-imposed deadline of July 4 to finalize the bill, adding urgency to ongoing negotiations. The Senate holds a slim Republican majority, and internal divisions within the party could complicate the path forward.

As both sides remain entrenched, Musk’s comments add a powerful voice to the conservative push for fiscal restraint. Johnson’s remarks reflect the party leadership’s efforts to keep its legislative agenda intact. With the bill now in the Senate’s hands, the outcome may hinge on which message resonates more: fiscal caution or party unity.

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