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Kill the Big Ugly Bill, says Elon Musk as Tesla CEO declares war on Donald Trump's bill
Kill the Big Ugly Bill, says Elon Musk as Tesla CEO declares war on Donald Trump's bill

Time of India

time3 days ago

  • Business
  • Time of India

Kill the Big Ugly Bill, says Elon Musk as Tesla CEO declares war on Donald Trump's bill

Tesla and SpaceX CEO Elon Musk has started a fierce campaign against US President Donald Trump's $4 trillion tax and spending bill, urging Americans to pressure lawmakers to reject it. In a viral post on X, Musk warned that the bill would bankrupt the country, calling it a 'disgusting abomination' and dubbing it the 'Debt Slavery Bill'. On June 4, Musk posted "Kill the Big Ugly Bill," signalling his intent to oppose the bill championed by Trump, who has previously referred to it as a "Big Beautiful Tax and Spending Bill." According to reports, Musk's primary concern is the bill's potential to exacerbate the national debt and lead to severe economic consequences. Elon Musk's Opposition to Trump's 'Big Beautiful Bill' The bill, which extends Trump's 2017 tax cuts, increases defense spending, and raises the national debt ceiling, has drawn criticism from fiscal conservatives . Musk, who recently left his role as head of the Department of Government Efficiency (DOGE), argues that the legislation undermines cost-cutting efforts and could inflate the deficit by $2.5 trillion. Elon Musk, who has long warned of the national debt as an 'existential threat,' had previously offered only mild critiques of the bill despite his role as an informal adviser to Trump. However, his latest comments mark a dramatic escalation in tone. Musk urged his 180 million followers to contact their senators and representatives, stating: 'Call your Senator. Call your Congressman. Bankrupting America is NOT ok! KILL the BILL.' He also shared a photoshopped poster of Quentin Tarantino's 'Kill Bill', replacing the film's title with his anti-bill slogan. White House says Bill will stimulate US economy The White House has pushed back against the deficit projections, with officials arguing that the CBO estimates fail to account for the potential economic growth spurred by the tax cuts. They claim the bill's provisions will stimulate the economy enough to offset the increased spending. However, Musk's public rebuke highlights growing tensions within Trump's Republican Party over the legislation, which faced a rocky passage through the House due to opposition from both fiscal conservatives and moderates. The bill's passage has also drawn scrutiny from independent fiscal watchdogs. A recent CBO report warned that the tax provisions alone could increase the federal deficit by $3.8 trillion over the next decade, while proposed cuts to social programs like Medicaid and food stamps would only reduce spending by $1 trillion. The Committee for a Responsible Federal Budget, a nonpartisan group, estimated the bill could add roughly $3.3 trillion to the national debt over the same period. AI Masterclass for Students. Upskill Young Ones Today!– Join Now

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