"Shameless," "Revolting": Elon Musk Slams Trump's Proposed Tax Bill as an "Abomination"
Aggressive Action: Details Provided Herein - "Unapologetic" and "deplorable": Musk strongly condemns Trump's tax legislation.
Here's the nitty-gritty: Elon Musk, the billionaire CEO of Tesla and SpaceX, has taken Trump’s proposed tax bill to task, branding it a "disgrace" and "pork-laden". In layman's terms, these words mean tacky and loaded with unnecessary gifts to voters. Musk believes that those who voted for it should hang their heads in shame.
Musk had already expressed "disappointment" with the bill proposal back in May. He railed against it for fueling the US national debt, undermining his efforts to save billions for Trump. A day after voicing his displeasure, Musk decided to step down as a consultant.
In his latest blow, Musk argued that the law would sink citizens under mountains of crushing, unmanageable debt. Trump affectionately nicknamed his proposal "Big Beautiful Bill" and is pushing for the Senate to pass the law, despite concerns among Republicans by early July.
The bill seeks to maintain the tax cuts from Trump’s first term (2017-2021), which are set to expire by the end of the year. In a bitter twist, drastic cuts to Medicaid, primarily for low-income and elderly Americans, are proposed to offset this. Controversial as ever, this bill could add up to $3 trillion (around €2.64 billion) to the federal budget deficit over the next decade, according to experts.
The White House spokeswoman Karoline Leavitt shrugged off Musk's latest condemnation, stating that it wouldn't sway Trump's support for the bill. "The President knows Elon Musk's stance on this bill," she declared. Trump is steadfast on his "big, beautiful bill".
House Speaker Mike Johnson labeled Musk's remarks "disappointing". He reminisced about explaining the bill proposal to his "buddy" in a 20-minute phone call on Monday, maintaining that Musk "understood" it.
Throughout his tenure as Trump's advisor, Musk was typically by Trump's side - whether at the White House, aboard Air Force One, or at Trump’s residence in Florida. Musk even brought his four-year-old son into the Oval Office.
In late May, Musk announced the end of his service in the US government, but vowed to continue supporting Trump. "I'm looking forward to remaining a friend and advisor to the President," Musk said on his departure. Trump praised Musk's "amazing contributions" and stated that he'd welcome him "back and forth" in the White House. As a parting gift, he handed Musk a golden key.
Elon Musk is under fire for slashing jobs and spending in departments and agencies. He's increasingly frustrated with his role in the US government. His initial goal of saving two trillion dollars (1.76 trillion euros) with a department for efficiency was never achieved[1]. According to calculations by "The Atlantic" magazine, only a fraction of this amount was saved, despite tens of thousands of people losing their jobs due to radical cuts.
Musk is planning to focus more on his companies, like the automaker Tesla and the aerospace company SpaceX. Tesla has recently struggled with massive revenue losses and falling profits, while the ninth test flight of SpaceX's colossal Starship rocket recently failed.
- Elon Musk
- Donald Trump
- US Tax Bill
- Electric Vehicle Tax Credits
- US Senate
- CEO
- SpaceX
- Tesla
Insights:
- Elon Musk's Criticism: Musk's criticism of Trump's tax bill was primarily due to its impact on electric vehicle tax credits. Tesla, Musk's company, lobbied heavily for the continuation of these credits, but the proposed legislation cut them.
- Frustration with Trump Administration: Musk's frustration with the Trump administration stems from not receiving favorable treatment in the tax bill and his public denunciation of the legislation, leading to his departure from government advisory roles.
- Relationship with Trump: Despite public criticism, Musk and Trump remain friends, though there is tension over Musk's public statements.
- Elon Musk, the CEO of both Tesla and SpaceX, has criticized the US tax bill proposed by President Donald Trump, labeling it as "disgraceful" and "pork-laden," due to its proposed cuts to electric vehicle tax credits that negatively impact his companies.
- Despite Musk's departure from advisory roles in the US government after voicing his disagreement with the tax bill, his criticism has not affected his personal relationship with President Donald Trump, who continues to praise Musk's contributions. However, Musk is now focusing more on his companies, including Tesla, which recently faced massive revenue losses, and SpaceX, whose ninth test flight of the Starship rocket failed.
