Elon Musk Slams Trump-Backed Tax Bill as 'Insane' and 'Job-Destroying'
Taarek Refaat
Tech billionaire Elon Musk launched a scathing attack Saturday on the latest version of President Donald Trump's sweeping tax and spending bill, warning that it would destroy American jobs and plunge the nation deeper into unsustainable debt.
In a post on X (formerly Twitter), the Tesla and SpaceX CEO described the legislation—currently under debate in the U.S. Senate—as 'insane and utterly destructive,' just weeks after appearing to reconcile with Trump over earlier disagreements.
> 'The latest version of the bill being discussed in the Senate will destroy millions of American jobs and cause massive strategic harm to our country!' Musk wrote.
Musk sharply criticized the bill for favoring what he called "obsolete industries" at the expense of future-focused innovation sectors, and accused lawmakers of setting the U.S. on a path toward a "debt slavery" crisis.
'It raises the debt ceiling by \$5 trillion—the largest increase in U.S. history—putting America on a fast track to debt bondage,' Musk warned.
Senate Republicans unveiled their version of Trump's flagship tax and spending legislation late Friday—a 940-page proposal aimed at extending the 2017 tax cuts that defined Trump's first term. The bill includes provisions for further tax reductions and a significant increase in defense and border security spending.
The Senate is expected to hold a preliminary vote on the bill this weekend, followed by a full session that could lead to its passage by Congress next week.
Despite fierce opposition from some business leaders and economists, the bill passed the House of Representatives last month by a razor-thin margin of **215 to 214**, with one lawmaker abstaining.
Although Musk once served as head of the Government Efficiency Department under Trump's current administration, their relationship has become increasingly strained over policy disagreements.
Earlier this month, Musk wrote on X:
'I'm sorry, but I can't take it anymore,' referring to what he called a 'massive, disgusting, flattery-filled spending bill.'
He went further in follow-up posts, accusing Congress of reckless financial behavior:
'Shame on those who voted for it. You know you're wrong. You know it.'
Musk also claimed the bill would balloon the federal budget deficit to **\$2.5 trillion**, placing an unbearable financial burden on American taxpayers.
Broader Implications
If passed, the legislation would represent a major political win for Trump ahead of the 2026 midterms—but at the cost of deepening economic polarization in the U.S. Critics, like Musk, argue it prioritizes short-term political gain over long-term national stability.
With the Senate vote imminent, the debate over the bill is likely to intensify—both in Congress and across America's boardrooms.
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