Elon Musk Criticizes Trump’s Tax and Spending Cuts Bill for Killing Jobs
TL/DR –
Elon Musk has criticized President Donald Trump’s tax and spending cuts bill, arguing that it would negatively affect jobs and hinder newer industries. Musk has previously expressed his disapproval of the bill and has threatened to withdraw political donations. The CEO of Tesla and SpaceX, who had previously invested heavily in Trump’s 2024 campaign, has seen his political influence decline since leaving the administration.
Elon Musk Criticizes President Trump’s Tax Bill
Elon Musk reiterated his criticism for President Donald Trump‘s tax and spending cuts bill on Saturday. He argued that the legislation would negatively impact industries and job growth in America.
“The latest Senate draft bill would destroy millions of jobs and cause immense strategic harm to our country,” Musk stated, emphasizing that the provisions favor obsolete industries and harm future ones.
The Tesla and SpaceX CEO also predicted that the bill would lead to the Republican Party’s political downfall. This statement marks the latest clash between Musk and the Trump administration.
Republican Senate leaders who have worked overtime to pass the legislation face another challenge as they aim to meet Trump’s Fourth of July deadline.
Previously, Musk blasted the bill as a “disgusting abomination,” with loaded criticisms such as “pork-filled” and accused those who supported it of betrayal. This triggered a public feud between Musk and Trump, which included accusations without evidence linking Trump to convicted sex offender Jeffrey Epstein.
Despite the fallout, Musk expressed regret for some of his statements, and Trump downplayed the conflict in a subsequent interview. It remains to be seen how Musk’s renewed criticism will impact his relationship with the Trump administration.
Musk’s influence has dipped since leaving the administration, but his significant financial contributions to Trump’s 2024 campaign highlight the potential impact of his political spending.
Despite Musk’s objections, the legislation narrowly passed its test vote in the Senate, initiating the debate process.
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