Trump's tax legislation draws criticism from Musk
Elon Musk Slams Trump's Tax and Spending Bill, Kicking Off a Public Feud
Just days after bailing on Washington, tech tycoon Elon Musk took a swipe at Donald Trump by calling out a key project of the US President as a "disgusting abomination". On his online platform X, Musk vented that the tax and spending bill encouraged even greater budget deficits and national debt. The project, nicknamed "the big beautiful bill" by Trump, narrowly made its way through the House of Representatives in May, but several members of Trump's Republican Party in the Senate have been blocking it. They object to the planned increase in the debt ceiling and seek deeper spending cuts.
White House spokesperson Karoline Leavitt dismissed Musk's criticism: "The President already knows what Elon Musk thinks of this bill," she said. Despite this, Trump remains committed to the bill.
The package encompasses lasting tax cuts from Trump's first term, partially funded by cuts to social programs. This proposal has sparked sharp resistance from Democrats.
Fascinatingly, Musk's criticism was mirrored by Democratic Senator Bernie Sanders, who wrote on X: "Musk is right." Sanders drew attention to the fact that the wealthiest Americans would pocket $664 million in tax cuts while $290 million would be slashed from food assistance for the needy.
Musk initially voiced his disappointment with the bill in more subdued terms. Last week, he expressed sadness that the committee he chairs, Doge, was obstacle to his proposal for spending cuts. In a CBS interview, he confessed, "I'm in a bit of a pickle" because he didn't want to slam the government, yet he couldn't support all its decisions. Now, Musk began with an emotive preface: "Sorry, but I can't take it anymore."
Musk had donated over $250 million to Trump's campaign and was once considered a close advisor to the President. However, Musk cited the rule that external government employees' contracts are only valid for 130 days a year for his departure from Washington. There have been signs in recent months of Musk's influence in Trump's circle waning.
Musk's criticism of Trump has triggered a spirited back-and-forth between the two figures on social media platforms. It has even led Musk to ponder supporting a new political party and urging Republicans to pick a side, while Trump hinted at terminating billions of dollars in government subsidies and contracts related to Musk's ventures. This feud has cast a shadow over Musk's businesses, including Tesla, which have experienced a decline due to the uncertainty and tension surrounding Musk's business relationships.
- Elon Musk, in a bold move, criticized Donald Trump's Economic and Social policy, specifically the tax and spending bill, stressing that it encourages larger budget deficits and national debt, thereby adding to the general news discussion on policy-and-legislation and politics.
- Reacting to Elon Musk's criticism, Democratic Senator Bernie Sanders echoed the tech tycoon's sentiments, expressing protests against the bill on his online platform, highlighting the disparity in tax cuts for the wealthiest Americans versus food assistance for the needy, potentially fueling further scrutiny of the bill under the general news lens.
