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๏ปฟAnjali Belgaumkar
๏ปฟAnjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- May 28, 2025 06:54 UTC
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Elon Musk Turns Against Trump Over Budget Blowout, Says It Undermines DOGE
Elon Musk criticized Trump-backed spending bill, citing concerns over deficit growth and its impact on government efficiency efforts.
Despite supporting Trumpโs campaign, Musk's disapproval reveals rising business leader tensions over fiscal priorities and budget cuts.
Tech billionaire Elon Musk has once again made headlines by publicly voicing his frustration over an important government spending and tax cut bill. The outspoken SpaceX and Tesla CEO, who has invested nearly $300 million into Donald Trumpโs 2024 presidential campaign and Republican-aligned causes via his America PAC, expressed disappointment in the legislation during a recent Bloomberg interview.
“I was, disappointed to see the massive spending bill, frankly โ which increases the budget deficit, not just decreases it โ and undermines the work that the Doge team is doing,โ Musk said, referencing the Department of Government Efficiency, an agency heโs informally led as a special government employee under the Trump administration.
The bill, branded by Trump as “one big, beautiful bill,” narrowly passed the House by a single vote but faces considerable challenges in the Senate.
The proposed bill includes several of Trumpโs campaign promises, such as extending the 2017 tax cuts, eliminating federal income taxes on tips and overtime pay, and allocating $50 billion to resume construction of the U.S.-Mexico border wall.
At the same time, it would cut federal spending by more than $1.5 trillion over the next decade, including reductions to food assistance programs and Medicaid. The Congressional Budget Office has warned that these cuts could leave more than 8 million Americans without health insurance.
While Musk remains a key backer of Trumpโs economic and innovation agendas, his public criticism signals growing unease among prominent business leaders about the fiscal direction of the current administration. Some GOP insiders worry that continued clashes over spending could complicate fundraising efforts and policy negotiations ahead of the 2026 midterms, where Republican congressional majorities are already tenuous.
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FAQs
He said it increases the budget deficit and undermines government efficiency, despite Trump calling it โone big, beautiful bill.โ
The CBO warns reducing Medicaid and food aid could leave over 8 million people without health insurance.
Yes 
No 
