WASHINGTON, D.C. – Billionaire entrepreneur Elon Musk voiced strong concerns about the financial consequences of a major tax bill passed by the House of Representatives. The legislation, promoted by former President Donald Trump as “big and beautiful,” barely cleared the chamber with a 215-214 vote on May 22.
The proposed law aims to renew key elements of Trump’s 2017 tax cuts while boosting defense and border security spending. It also tightens eligibility rules for food assistance programs, drawing criticism from opponents who warn of rising debt. A Congressional Budget Office analysis estimates the bill could expand the national deficit by $3.8 trillion within ten years.
Speaking candidly in a *CBS Sunday Morning* interview, Musk expressed frustration over the bill’s fiscal irresponsibility. “Frankly, I was disappointed to see such massive spending,” he said. “Instead of reducing the deficit, this bill worsens it and weakens efforts toward government efficiency.”
Musk once led the Department of Government Efficiency under Trump, where he pushed to cut wasteful spending. Though no longer in that role, he remains vocal about fiscal discipline. “A bill can be big or beautiful,” he remarked, “but I doubt it can be both.”
The legislation now heads to the Senate, where heated debates are expected. Lawmakers may propose changes as concerns mount over long-term economic risks. Supporters argue tax relief spurs growth, while critics fear reckless spending will deepen financial instability.
As discussions continue, the bill’s fate hangs in the balance. Policymakers must weigh competing priorities—tax reform versus fiscal restraint—amid growing scrutiny. The outcome could shape U.S. economic policy for years, making this a pivotal moment in Washington’s ongoing budget battles.
Observers anticipate fierce negotiations ahead, with potential amendments altering the final version. Whether the Senate can reconcile fiscal responsibility with political demands remains unclear. For now, all eyes remain on Capitol Hill as lawmakers grapple with one of the most consequential tax debates in recent memory.
The controversy highlights broader tensions in U.S. governance—how to balance growth, security, and debt in an era of polarized politics. Musk’s critique underscores the stakes, as policymakers face mounting pressure to deliver sustainable solutions without crippling future generations.
With economic uncertainty looming, the Senate’s next moves will prove critical. The nation waits to see whether compromise or conflict will define this legislative showdown. Either way, the repercussions will resonate far beyond Washington, shaping America’s financial trajectory for decades to come.