Elon Musk and long-time Trump supporters object to Trump's big beautiful bill

Cryptopolitan
Updated
Mitrade
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Source: DepositPhotos

Musk’s public opposition of Trump right after his exit from the White House has left many confused and raised a lot of questions. While the split seems to be cordial from the President’s end, Musk is currently leading the charge against his new bill.

The United States’ first buddy, Elon Musk, appears committed to rallying support against President Trump’s “One Big Beautiful Bill,” claiming it goes against previous budget trimming efforts.

Call your Senator,
Call your Congressman,

Bankrupting America is NOT ok!

KILL the BILL

— Elon Musk (@elonmusk) June 4, 2025

Musk leads the resistance to Trump’s OBBB

Elon Musk remains steadfast in his public campaign against President Donald Trump’s latest legislation, drumming up opposition to the “One Big Beautiful Bill Act” throughout the day on his X platform.

The Tesla and SpaceX founder urged Americans all over the country to reach out to their representatives and demand its rejection.

Musk’s opposition seems to be focused on how much implementing the bill will cost.

In a series of posts on his social media platform X, Musk criticized the bill, stating, “Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL.”

He labeled the legislation a “disgusting abomination,” warning it could increase the U.S. debt crisis by adding over $2.4 trillion to the federal deficit over the next decade.

Musk’s opposition has found support among some economic conservatives. Senators Rand Paul and Mike Lee have echoed Musk’s concerns, stressing the bill’s potential to increase the national debt and reverse the progress made in reducing government spending.

Long-time Trump supporters object to the tax bill

The “One Big Beautiful Bill Act” is a major legislation aiming to permanently extend the 2017 Trump-era tax cuts, reduce federal spending on social programs, and increase the investments into defense and border security.

A central feature of the bill is the continuation of individual and corporate tax breaks, including exemptions on overtime pay, tips, and auto loan interest, as well as increased deductions for seniors and small businesses.

Musk has let his criticism of the bill be known, writing on X Tuesday night, “Mammoth spending bills are bankrupting America!” he also attached an image that showed the rising national debt over the past three decades. “ENOUGH,” he added.

The “One Big Beautiful Bill Act” narrowly passed the House with a 215-214 vote and now faces the Senate. The bill includes provisions for substantial tax cuts and increased spending on various programs, which have led to projections of a $3.1T addition to the existing national debt over the next decade.

Critics of the bill argue that it unfairly benefits the wealthy and cuts into the budget for essential services. The Congressional Budget Office estimates that the bill could lead to 10.9 million Americans losing their health insurance by 2034.

The bill also proposes a 10-year ban on state-level enforcement of any law or regulation regarding artificial intelligence (AI), which has raised concerns about unsupervised technological advancement, including from Trump’s long-time supporter, Rep. Marjorie Taylor Greene.

Americans have also shared their displeasure with the bill on many platforms, such as Reddit and X, where it’s rare for both conservatives and liberals to agree.

Musk’s opposition has been dismissed by some. House Speaker Mike Johnson stated that his comments were “terribly wrong.” Trump has remained largely silent on Musk’s criticisms and has focused on promoting the bill’s potential economic benefits.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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