Elon Musk, the tech billionaire who was frequently seen around President Donald Trump in the early stages of his second term, has voiced his disapproval of Trump’s key legislative initiative, a large tax and spending package known as the “Big, Beautiful Bill.”
Echoing concerns of some Republican legislators, Musk has criticized the bill for its potential to substantially increase the national debt. In a preview clip from an exclusive interview set to air on Sunday, Musk expressed his “disappointment” with the bill, stating that it “increases the budget deficit, not just decreases.” He also commented that the bill “undermines the work that the DOGE team is doing.”
Musk spearheaded the Deficit and Overspending Government Elimination (DOGE) initiative, which led to widespread federal layoffs, agency closures, and the termination of government contracts, some of which are facing legal challenges. Musk promised that DOGE would save at least $1 trillion in federal spending, and the initiative allegedly has saved taxpayers around $175 billion to date, although critics and fact-checkers have questioned these figures.
Trump’s “big, beautiful bill” proposes increased spending in areas like defense and border security, along with the extension of his first-term tax cuts. It also includes restrictions and funding cuts for clean energy, Medicaid, and other programs, and would trigger significant reductions in Medicare. Nonpartisan groups estimate the bill would add trillions to the national debt. Despite opposition from fiscal conservatives, the bill passed the House last week and is now under consideration in the Senate, where Republicans also hold a majority.
Amid pressure from investors to dedicate more time to his companies, Musk, who heads Tesla, SpaceX, and xAI, and owns the social media platform X, announced that he would reduce his “time allocation” to DOGE starting in May. He stated that “the large slug of work necessary to get the DOGE team in place and working in the government to get the financial house in order is mostly done.”
Musk has affirmed his commitment to his role as senior adviser to the President, stating on May 20 that his “rough plan on the White House is to be there for a couple days every few weeks…to be helpful where I can be helpful.” However, his appearances around Trump have become less frequent, leading to speculation of a disagreement with the President. Reports earlier this month noted that Trump, who previously posted about Musk almost daily on Truth Social, has not mentioned him at all in recent weeks. Also on May 20, Musk stated that he would scale back his political spending after investing over $250 million in Trump’s 2024 campaign, stating that he believed he had “done enough.” He added that if he sees a reason to engage in political spending in the future, he would consider it.
The potential impact of Musk’s recent comments on Trump’s “big, beautiful bill” remains uncertain. Several Republican Senators have also expressed concerns about its financial implications. Senator Ron Johnson of Wisconsin stated on Sunday that he believes there are enough Senators who can block the bill “until the President gets serious about spending reduction and reducing the deficit.” That same day, Senator Rand Paul of Kentucky remarked that while he supports spending cuts and considers those in the bill “wimpy and anemic,” he would still support the bill if it wouldn’t significantly increase the debt, stating that “the math doesn’t add up.”
Musk summarized his “personal opinion” in the CBS interview clip, stating, “I think a bill can be big or it can be beautiful. But I don’t know if it can be both.”
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