Billionaire entrepreneur Elon Musk has publicly condemned the Trump-backed “One Large Lovely Invoice Act,” a sweeping tax and spending bundle narrowly handed by the Home of Representatives on Might 22, 2025. Musk labeled the laws a “disgusting abomination,” warning it will set off an “unsustainable debt spiral” for the USA.

The invoice, which handed the Home by a razor-thin 215–214 margin, extends the key provisions of the 2017 Tax Cuts and Jobs Act and introduces a variety of recent tax and spending measures. In response to the Congressional Funds Workplace, the act is projected so as to add $3.8 trillion to the nationwide debt over the subsequent decade, pushing the federal deficit to unprecedented ranges.

Musk, who has beforehand donated over $250 million to assist Donald Trump’s 2024 marketing campaign, voiced his considerations on social media and in direct communications with Republican lawmakers.

He criticized the invoice’s fiscal irresponsibility, stating, “It is going to considerably escalate the already substantial finances deficit to $2.5 trillion (!!!) and saddle Americans with prohibitively unsustainable debt.” He additional admonished supporters of the invoice, saying, “Disgrace on those that supported this: you might be conscious of your misstep. You might be conscious.”

The “One Large Lovely Invoice Act” is a posh bundle that not solely extends tax cuts but in addition will increase the state and native tax (SALT) deduction, introduces new work necessities for Medicaid, and allocates $150 billion for protection spending, amongst different provisions.

The invoice additionally scales again many clean-energy tax credit and imposes stricter eligibility for social packages like SNAP and Medicaid, which may end in tens of millions dropping protection by 20345.

Regardless of Musk’s high-profile criticism, Republican leaders have largely dismissed his considerations. Home Speaker Mike Johnson responded, “my pal Elon is extremely improper,” whereas the Trump administration stays steadfast, with White Home spokeswoman Karoline Leavitt stating, “That is one large, stunning invoice, and [the president] is sticking to it.”

The Senate now faces a contentious debate, with Republicans divided over the invoice’s fiscal route. Some, like Senator Mike Lee, are pushing for deeper spending cuts and stricter deficit controls, echoing Musk’s warnings concerning the risks of unchecked federal spending. Others prioritize defending Medicaid and investments in inexperienced power, reflecting the social gathering’s inner divisions.

With the Senate’s slender 53-47 majority, Republican leaders can afford to lose not more than three votes to go the invoice, making each vote essential. The Senate Finance Committee can also be contemplating amendments that would additional enhance the invoice’s value, equivalent to making enterprise tax breaks everlasting.

Because the Senate prepares for a possible vote earlier than July 4, the destiny of the “One Large Lovely Invoice Act” stays unsure. Musk’s outspoken opposition underscores the rising anxiousness amongst fiscal conservatives about America’s rising debt and the long-term penalties of expansive tax and spending insurance policies.