Tesla CEO Elon Musk, who has been vocally critical of President Donald Trump’s signature tax and spending legislation for weeks, made his first public comment since the bill was passed. Musk expressed support for Senator Rand Paul’s harsh assessment of the bill on X, echoing concerns about the growing national deficit.
Senator Paul described the legislation’s budget as one that “explodes the deficit” and criticized it as prioritizing “short-term politicking over long-term sustainability.” The House of Representatives narrowly passed the One Big Beautiful Bill Act, which now awaits President Trump’s signature. Both Musk and Paul have repeatedly warned that the bill’s provisions would significantly increase the national debt.
Musk earlier called it the “DEBT SLAVERY bill,” signaling his continued opposition.
Budget Office Estimates and Political Responses
The independent Congressional Budget Office (CBO) estimated the bill could add $3.4 trillion to the current $36.2 trillion U.S. debt over the next decade. The White House dismissed these figures as partisan and has publicly challenged the CBO’s credibility.
The bill contains extensive tax cuts, heightened immigration enforcement spending, and substantial reductions to Medicaid and other social programs. Notably, it also cuts tax credits and subsidies for solar and wind energy, as well as electric vehicles—areas in which Musk has business stakes.
In early June, President Trump publicly declared he had removed the “EV Mandate” that forced electric vehicle purchases, which Musk has heavily criticized.
Tesla’s stock took a severe hit amid the public exchanges, losing roughly $152 billion in market value on June 5 and dropping below a $1 trillion valuation. Although Tesla’s shares have since recovered somewhat, they remain below pre-conflict levels.
Author’s Opinion
The ongoing clash between Musk and the administration highlights the difficult balance between promoting cutting-edge industries like electric vehicles and managing national fiscal health. While innovation demands support, unchecked spending risks long-term economic stability. Musk’s outspoken stance may push for more targeted incentives that better align with sustainable fiscal policies.
