Musk targets Donald Trump in his latest move.
Trillionaire Tech Tycoon Elon Musk Dealing Spats with Ex-President Trump
Elon Musk, the world's richest man, and former President Donald Trump are locking horns once more, as Musk branded the tax and spending bill promoted by Trump as a "vile perversion." He warned politicians who back this bill: "In the November of next year, we will boot out all seditionists who have sold out the American public."
Midterm elections are set for early November 2026, where all House of Representatives members and a third of the Senate will face the electorate.
For Congress members, Musk's words pose no idle threat: after all, he contributed over $250 million to Trump's re-election campaign last year. With his estimated net worth of $400 billion, primarily in stocks, Musk can effortlessly bankroll significant political campaigns.
A Clash with the White House
The budget bill, which Trump labels a "grandiose masterpiece," barely made it through the House of Representatives in May. Yet, several Trump-backed Republican senators are obstructing it, protesting the proposed debt ceiling increase and calling for steeper spending reductions.
Trump aims to bring these apprehensive senators in line. Musk's intrusion complicates these efforts and deviates from the customary boundaries between the president and Congress. Trump typically counters with threats of backing their challengers in the upcoming elections.
The White House initially dismissed Musk's criticism: "The president is aware of Elon Musk's disdain for the law," said Press Secretary Karoline Leavitt. Trump stands by it, but that stance may change following Musk's strong-worded warning to Congress members.
Exhausted, Unleashed
About two weeks ago, Musk hinted at reducing political spending in the future. "I believe I've done enough," he commented in an interview. But Musk also added that if he sees a compelling reason to invest in politics again, he will.
Musk previously voiced disapproval of the law, albeit in a tamer manner. He expressed frustration that the committee Doge undercut the decrease in government spending he had championed. He admitted to feeling trapped, as he didn't wish to denounce the government but also couldn't approve of every decision they made. Now he prefaced his sharp questionings with the words: "I'm sorry, but I can't take it anymore."
Cheers from the Left Pond
On his platform X, Musk criticized, among other issues, the bill's potential to exacerbate a swelling federal deficit and national debt. He critiqued those who supported the bill: "You're downright pathetic if you vote for this garbage," he said.
The legislation contains fiscal measures such as making permanent the tax cuts from Trump's first term and sticking to his campaign promise to refrain from taxing tips and overtime pay. It will be funded, in part, through social welfare cuts, which Democrats staunchly oppose.
Senator Bernie Sanders applauded Musk's comments, saying, "Musk's viewpoint resonates with mine – the wealthy should shoulder more of the tax burden." Sanders pointed out that the wealthiest Americans were granted $664 million in tax exemptions while $290 million was being cut from food assistance programs for the needy.
Battles Lost in Washington
Musk cited the 130-day annual limit on external government employment as the reason for his withdrawal from Washington. However, signs of a waning influence within Trump's circle had been present in recent months. According to reports, he lost power struggles with several presidential aides. Most recently, Trump dropped the previous NASA agency director candidate, a Musk-ally, from the running.
- Elon Musk, displeased with the tax and spending bill promoted by former President Trump, warned politicians who support this bill that they will be voted out in the November 2026 midterm elections, considering his significant political contributions and immense wealth.
- Musk's criticism of the budget bill and his warning to Congress members have complicated Trump's efforts to bring obstructing senators in line, as these actions deviate from the customary boundaries between the president and Congress.
- Democrat Senator Bernie Sanders applauded Musk's comments, agreeing with his assertion that the wealthy should shoulder a larger tax burden, citing the discrepancy between the tax exemptions granted to the wealthy and spending cuts on food assistance programs for the needy.
