Elon Musk Slams President Trump’s “Outrageous” Tax Bill

Just days after Elon Musk stepped down from his role leading the Department of Government Efficiency in Washington, D.C., he publicly slammed the tax bill that President Donald Trump is urging Republican senators to support. Musk, who is the world’s richest man, called the legislation “massive, outrageous, [and] pork-filled” in a post on his social media platform X. He warned that it would balloon the federal budget deficit to $2.5 trillion and leave Americans burdened with unsustainable debt.

Unsurprisingly, Musk didn’t stop there. Indeed, he also criticized members of Congress who voted in favor of the bill. “Shame on those who voted for it: you know you did wrong. You know it,” he wrote. His comments come at a time when public and political divisions over government spending are intensifying. It is worth noting that Musk also criticized the bill last week by saying that it undercuts what his team at the Department of Government Efficiency has been trying to accomplish.

Despite Musk’s harsh words, the White House says that the president won’t be changing course. In fact, Press Secretary Karoline Leavitt stated that Trump knows where Musk stands on the bill but remains committed to what he calls “One Big, Beautiful Bill.” Nevertheless, Representative Thomas Massie of Kentucky, one of only two Republicans to vote against it, publicly backed Musk’s criticism, saying, “He’s right.”

What Is the Prediction for Tesla Stock?

When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $282.70 per share implies 18.1% downside risk.

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