 and saddle American citizens with prohibitively unsustainable debt.” He further admonished supporters of the bill, saying, “Shame on those who supported this: you are aware of your misstep. You are aware.” The “One Big Beautiful Bill Act” is a complex package that not only extends tax cuts but also increases the state and local tax (SALT) deduction, introduces new work requirements for Medicaid, and allocates $150 billion for defense spending, among other provisions. The bill also scales back many clean-energy tax credits and imposes stricter eligibility for social programs like SNAP and Medicaid, which could result in millions losing coverage by 20345. Despite Musk’s high-profile criticism, Republican leaders have largely dismissed his concerns. House Speaker Mike Johnson responded, “my friend Elon is terribly wrong,” while the Trump administration remains steadfast, with White House spokeswoman Karoline Leavitt stating, “This is one big, beautiful bill, and [the president] is sticking to it.” The Senate now faces a contentious debate, with Republicans divided over the bill’s fiscal direction. Some, like Senator Mike Lee, are pushing for deeper spending cuts and stricter deficit controls, echoing Musk’s warnings about the dangers of unchecked federal spending. Others prioritize protecting Medicaid and investments in green energy, reflecting the party’s internal divisions. With the Senate’s narrow 53-47 majority, Republican leaders can afford to lose no more than three votes to pass the bill, making every vote crucial. The Senate Finance Committee is also considering amendments that could further increase the bill’s cost, such as making business tax breaks permanent. As the Senate prepares for a potential vote before July 4, the fate of the “One Big Beautiful Bill Act” remains uncertain. Musk’s outspoken opposition underscores the growing anxiety among fiscal conservatives about America’s rising debt and the long-term consequences of expansive tax and spending policies. For More Interesting News Follow Us on Instagram){kind=link}
Billionaire entrepreneur Elon Musk has publicly condemned the Trump-backed “One Large Stunning Invoice Act,” a sweeping tax and spending package deal 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 US.
The invoice, which handed the Home by a razor-thin 215–214 margin, extends the foremost provisions of the 2017 Tax Cuts and Jobs Act and introduces a variety of latest tax and spending measures. In response to the Congressional Price range 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 issues 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 funds 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’re conscious of your misstep. You’re conscious.”
The “One Large Stunning Invoice Act” is a fancy package deal 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 applications like SNAP and Medicaid, which may lead to thousands and thousands dropping protection by 20345.
Regardless of Musk’s high-profile criticism, Republican leaders have largely dismissed his issues. Home Speaker Mike Johnson responded, “my pal Elon is very fallacious,” whereas the Trump administration stays steadfast, with White Home spokeswoman Karoline Leavitt stating, “That is one huge, stunning invoice, and [the president] is sticking to it.”
The Senate now faces a contentious debate, with Republicans divided over the invoice’s fiscal path. 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 vitality, reflecting the get together’s inner divisions.
With the Senate’s slender 53-47 majority, Republican leaders can afford to lose not more than three votes to move the invoice, making each vote essential. The Senate Finance Committee can also be contemplating amendments that might additional improve the invoice’s price, akin to making enterprise tax breaks everlasting.
Because the Senate prepares for a possible vote earlier than July 4, the destiny of the “One Large Stunning Invoice Act” stays unsure. Musk’s outspoken opposition underscores the rising nervousness amongst fiscal conservatives about America’s rising debt and the long-term penalties of expansive tax and spending insurance policies.
For Extra Fascinating Information Comply with Us on Instagram