Elon Musk has forcefully criticized President Donald Trump’s comprehensive tax and spending bill, describing it as a “disgusting abomination” that he contends will exacerbate the nation’s financial woes. The billionaire’s remarks, primarily conveyed via posts on X, signal a deepening rift between the tech magnate and the president.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X. He continued, “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.” Musk asserted that the bill “will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt.” The nonpartisan Congressional Budget Office (CBO), for its part, has estimated the measure would add $3.8 trillion to the federal government’s $36.2 trillion in debt, Reuters reported. The BBC also reported that the bill is estimated to increase the budget deficit by about $600 billion in the next fiscal year alone. “Congress is making America bankrupt,” Musk added in one of his posts.
The legislation, which President Trump refers to as the “One Big, Beautiful Bill Act,” passed the House of Representatives last month by a single vote and is now under consideration in the Republican-controlled Senate. The bill seeks to extend the 2017 tax cuts enacted during Trump’s first term. It also includes provisions for increased military spending and funding for immigration enforcement. To offset some costs, the bill would cut health, nutrition, education, and clean energy programs. White House officials and House Speaker Mike Johnson have claimed the bill would shrink the national debt, a claim that stands in stark contrast to estimates by the Congressional Budget Office and a number of independent analysts, who project it would increase federal deficits by well over $1 trillion.
Musk’s strong comments mark his most significant public disagreement with Trump since he abruptly departed his role leading the Department of Government Efficiency (DOGE) last week, after 129 days of service. While he had previously expressed disappointment with the plan, his recent posts intensified his criticism. Musk hinted at potentially trying to unseat politicians who supported the bill, stating on X, “In November next year, we fire all politicians who betrayed the American people.” This move comes after Musk’s super PAC, America PAC, spent approximately $20 million in the last election cycle to support House Republicans, with another $10 million from a different PAC he backed for Senate Republicans, according to The New York Times.
The White House was quick to dismiss Musk’s latest attack. “Look, the president already knows where Elon Musk stood on this bill,” White House spokeswoman Karoline Leavitt stated. “It doesn’t change the president’s opinion. This is one big, beautiful bill, and he’s sticking to it.”
Other Republican leaders also pushed back against Musk’s assertions. Senate Majority Leader John Thune expressed his disagreement, telling reporters that the party plans to “proceed full speed ahead” despite “a difference of opinion.” House Speaker Mike Johnson also directly addressed Musk’s criticism, telling reporters at the Capitol, “my friend Elon is terribly wrong.” Johnson added, “It’s a very important first start. Elon is missing it,” and expressed regret that Musk had “made this mistake” despite a 20-minute phone call between them on Monday. Johnson suggested that the bill’s phasing out of electric vehicle tax credits could “have an effect” on Tesla, Musk’s company.
Musk’s concerns about the national debt are echoed by several prominent financial leaders. Jamie Dimon, CEO of JPMorgan Chase, expressed concerns about the national debt, stating that the bond market is going to “crack” at some stage due to spending and quantitative easing. “I just don’t know if it’s going to be a crisis in six months or six years,” Dimon said, per Fortune, adding, “Unfortunately, it may be that we need that to wake us up.” Federal Reserve Chairman Jerome Powell has also voiced worries about the national debt path, stating, “It’s probably time, or past time, to get back to an adult conversation among elected officials about getting the federal government back on a sustainable fiscal path,” as reported by Fortune. Powell emphasized that “It’s on Congress to figure out how to get us back on a sustainable path.” The Congressional Budget Office expects debt to reach 156% of GDP by 2055.
While Republicans largely defended the bill, The New York Times noted that some Democrats, including Senate Minority Leader Chuck Schumer, welcomed Musk’s criticism. “He’s right,” Schumer said, holding a printed copy of Musk’s X posts at a news conference. “Republicans should listen to him.”
The legislation has also fueled tensions within the Republican party. Kentucky Senator Rand Paul, for instance, has stated he will not support the bill if it raises the debt ceiling, warning that “The GOP will own the debt once they vote for this.” President Trump, for his part, responded to Paul on social media, accusing the senator of having “very little understanding of the bill” and calling his ideas “actually crazy.”
Trump and congressional Republicans have set a July 4 deadline to pass and sign the measure into law. Despite the current bill’s debt implications, Trump is simultaneously asking Congress to pass a plan to reduce current spending by $9.4 billion, a figure derived from DOGE’s work.
