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Musk Slams Trump’s Tax Bill Over Rising Deficit

Orlando Newkirk by Orlando Newkirk
May 28, 2025
in Business
Elon Musk wearing a tuxedo with a bow tie at a formal event, looking directly at the camera.

Elon Musk criticized President Donald Trump’s main policy program after the House of Representatives passed the sweeping tax and spending bill last week.

Musk expressed his dissatisfaction about the bill on CBS Sunday Morning because the extended tax cuts and increased defense spending through the bill lead to higher federal budget deficits. According to Musk the bill made him disappointed because it failed to reduce the federal deficit. “It increases the budget deficit, not decreases it.”

The government project initiated by Trump as his “big, beautiful bill” will result in $600 billion deficit growth in the next fiscal year according to official projections. A $4 trillion increase to the debt ceiling accompanies large expenditures for deportation operations and military funding in this legislation. The bill will proceed to the Senate where lawmakers will conduct additional discussions.

Musk declared his disappointment about the bill because it destroyed the savings DOGE had reported according to his position as head of the Department of Government Efficiency (DOGE). The work of DOGE team members faces erosion due to this policy. The organization reported $175 billion in savings yet several experts question the accuracy of its calculated figures.

Trump admitted to facing opposition from his party regarding the legislation even though he supported its tax cut measures. The bill generated opposition from House fiscal conservatives which made its approval more challenging.

The billionaire Tesla CEO’s statements about the White House conflict occurred while tensions between him and the administration grew stronger. Musk reduced his political funding and DOGE activities while donating more than $250 million to Trump’s presidential campaign in the previous year. His cost-cutting initiatives received both favorable and unfavorable reactions from the public.

Musk defended his work performance by stating he performed the essential tasks. The Republican Party faces an increasing separation between Trump’s fiscal strategy and Musk’s critical assessment of it.

Tags: Elon Musk
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