Billionaire tech entrepreneur Musk lashes out against Trump's proposed tax legislation
Tech tycoon Elon Musk airs his frustrations, lashing out at Donald Trump's pet project with a fiery criticism. This comes after Musk distanced himself from the White House, taking a harsh stance on Trump's tax and spending bill. Labeling it a "disgusting abomination," Musk asserted that this legislation would only exacerbate the national debt and budget deficit.
Known as the "great beautiful bill" by Trump, this controversial piece of legislation squeaked through the House of Representatives in May. However, it's faced a snag in the Senate, where several Republican senators object to the proposed rise in the debt ceiling and seek deeper spending cuts.
The White House's Casual Dismissal
The White House seemingly roadblocks Musk's criticism, with spokeswoman Karoline Leavitt dismissing it with a shrug. "The President's already got a good idea of what Elon Musk thinks about this bill," Leavitt stated.[1][2] Trump has expressed his backing for the bill, despite its criticisms.
Comprising various provisions, the bill includes the permanent extension of tax cuts from Trump's first term. These proposed savings would be achieved by trimming funds from social programs. This initiative has garnered strong opposition from Democrats.
Interestingly, Musk's ripe criticism resonates with Democratic Senator Bernie Sanders. Sanders endorses Musk's stance, highlighting that the wealthiest Americans would reap a $664 million tax cut while $290 million would be slashed from aids meant for the needy.[1][2]
"Enough Is Enough!"
Musk's previous criticisms of the bill were relatively milder, but this time around, he sounds furious. Last week, Musk expressed "disappointment" that the committee's Doge was undermining the cuts he proposed. Musk also disclosed to CBS in an interview that he's "in a bit of a pickle," as he doesn't want to criticize the government but also can't support all its decisions.[1][2] This time, Musk prefaced his criticism with a frustrated "Sorry, but I can't take it anymore."
Musk, who donated more than $250 million to Trump's campaign, was previously regarded as one of Trump's close allies. However, a 130-day limit on external government officials' tenure saw Musk step away from Washington. Lately, signs have emerged suggesting a dwindling influence of Musk within Trump's circle.[3]
However, insiders claim that Musk and Trump are still in touch, albeit Trump finding Musk's public jabs irksome.[3] Musk's main concern lies with the bill's abolition of key electric vehicle tax credits, a move Tesla has lobbied against.[3]
[1] TechCrunch
[2] Politico
[3] Reuters
[4] Business Insider
- Despite the White House's dismissal of his criticism, technology magnate Elon Musk continues to voice his concerns about the controversial policy-and-legislation, claiming that it would negatively impact general-news such as the national debt and budget deficit.
- The fiery criticism from Musk against the current technology-related policy-and-legislation aligns with the stance of Democratic Senator Bernie Sanders, who also opposes the proposed bill due to its potential to benefit the wealthiest Americans at the expense of aids for the needy.
