Billionaire Elon Musk has publicly criticized President Donald Trump’s flagship tax and spending bill, marking a rare break from the man he helped re-elect in 2024.
In an interview with CBS, Musk voiced his “disappointment” over the multi-trillion-dollar package, warning it could balloon the U.S. budget deficit by $600 billion in the coming fiscal year. “It undermines the work we did to rein in spending,” Musk said, referring to his tenure as head of the Department of Government Efficiency (DOGE).
The bill — dubbed “big and beautiful” by Trump — narrowly passed the House last week and is heading to the Senate. It includes sweeping tax cuts, increased defence spending, and a controversial rise in the debt ceiling to $4 trillion.
“I think a bill can be big or beautiful. I don’t know if it can be both,” Musk quipped.
The tech mogul, who donated over $250 million to support Trump’s 2024 campaign, had previously led efforts to slash government spending by $1 trillion through workforce cuts and cancelled federal contracts. But the new legislation, he argues, reverses that progress.
Trump responded cautiously, saying he is “thrilled” by parts of the bill but “not happy” with others. He did not address Musk’s remarks directly.
The friction comes as Musk distances himself from politics, promising to scale back campaign contributions and refocus on Tesla.
The electric car giant has faced backlash over Musk’s political involvement, with protests and a slump in sales reported earlier this year.
