Elon Musk Calls Trump’s Bill a ‘Disgusting Abomination’

Just days after stepping away from the Trump administration, Tesla (TSLA) CEO Elon Musk has come out with a heated social media post concerning President Trump’s “one, big, beautiful bill.”

“This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,” said Musk, adding that “It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America citizens with crushingly unsustainable debt.”

In response to Musk’s post, White House Press Secretary Karoline Leavitt said that Trump is already aware of Musk’s view and that “It doesn’t change the President’s opinion.”

What’s Included in the “One, Big, Beautiful Bill?”

Trump’s bill will result in the largest tax cut in history, with families earning between $30,000 and $80,000 eligible for an approximately 15% reduction in taxes, said the White House. In addition, hospitality workers and elderly people will receive tax breaks.

At the same time, it would also increase the U.S. debt limit by between $4 and $5 trillion, adding on to the U.S.’ already deep debt balance. What’s more, the bill could increase U.S. debt by $3.8 trillion over the next 10 years, according to a report from the Congressional Budget Office. Opponents of the bill argue that its tax breaks will overwhelm any of its savings measures, putting the U.S. even deeper in debt.

If the U.S. were to default on its debt, that would pose a major problem for its credibility with negative effects likely affecting the stock market given that large corporations tend to hold Treasury assets.

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