Elon Musk criticizes Trump’s tax bill, citing rising deficit concerns
Elon Musk has openly criticized President Donald Trump’s tax legislation, arguing that it undermines ongoing efforts to reduce government spending.
The remarks by the billionaire businessman were made to CBS as part of a longer interview due to run on its Sunday Morning programme this weekend, News.Az reports, citing The Guardian.
In a preview posted on social media, Musk said he was “disappointed to see the massive spending bill, which increases the budget deficit … and undermines the work that the Doge team is doing”.
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Musk had been leading the “department of government efficiency” (Doge) since January, which was given the task of cutting state spending. He later announced in April he would be stepping back from the Trump administration after Tesla’s earnings plunged.
Musk now appears to be hitting out at Trump’s One Big Beautiful Bill Act, which was approved by the US House of Representatives last week.
The bill pushes ahead with a number of Trump’s campaign promises, including extending tax cuts for individuals and corporations and ending clean energy incentives enacted under Joe Biden.
However, the bill also funds the construction of a wall along the border with Mexico, as well as staff and facilities for mass deportations of undocumented immigrants. Even when taking cuts into account, the bill is expected to add about $2.3tn (£1.7tn) to the deficit, according to the non-partisan Congressional Budget Office.
Musk told CBS: “I think a bill can be big, or it can be beautiful. But I don’t know if it can be both. My personal opinion.”
The comments will fuel rumours of a growing rift between the billionaire and the US president, whom Musk helped bankroll last year. In total, Musk’s super political action committee donated $200m (£148m) to Trump’s presidential campaign before the November election, which many credit with helping return Trump to the White House.
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