Elon Musk, the CEO of Tesla and the world’s richest man, has sharply criticised a new tax and spending bill from the US Senate. He warned that the bill would destroy jobs and seriously harm America’s economy.
Musk posted on X, “The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!” He also added, “Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future.”
The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!
— Elon Musk (@elonmusk) June 28, 2025
Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future. https://t.co/TZ9w1g7zHF
Musk renews his criticism
Earlier, Musk had publicly disagreed with US President Donald Trump over this bill. Eventually, they patched things up. However, Musk has once again spoken out strongly. This time, he called the bill outdated and dangerous for future industries.
What the bill includes
The bill is 940 pages long. It includes tax cuts, spending reductions, and more money for defence and immigration enforcement. In contrast, it cuts funding for public programmes like Medicaid, food stamps, and other welfare services.
Notably, the bill supports Trump’s core policies. He has urged Republican lawmakers to pass it before 4th July, which is Independence Day.
Republicans push for quick approval
Currently, Republicans hold the majority in both the Senate and the House of Representatives. Therefore, they are rushing to pass the bill before the deadline. They are working through the weekend to finalise it and send it back to the House for a final vote.
Meanwhile, some Republican senators have expressed concerns. They are uneasy about the deep cuts to social services. On the other hand, Democrats remain united in their opposition to the bill.