Elon Musk Criticizes Trump’s Budget Bill Over Deficit, Undermining Cost-Cutting Efforts

Elon Musk, appointed by President Trump to lead the Department of Government Efficiency (DOGE), has publicly criticized the GOP's recently passed multitrillion-dollar tax and spending bill, known as the "One Big Beautiful Bill Act," for increasing the federal deficit rather than reducing it. Despite the bill's popularity among many Republicans and its intent to make the 2017 Trump tax cuts permanent, Musk expressed disappointment, stating that the bill "can be big or beautiful, but not both," highlighting his concern that it undermines the cost-cutting efforts of DOGE. The Congressional Budget Office projects the bill will increase the deficit by $3.8 trillion over the next decade, alarming investors and prompting higher Treasury borrowing costs. Musk's break with Trump over this bill reflects growing tensions within the administration, as Musk was once a major donor and advocate for significant government spending cuts. The bill, which includes tax relief for families and increased defense spending, also contains controversial provisions such as Medicaid work requirements and expanded funding for ICE. Senate fiscal hawks are pushing for deeper cuts before the bill reaches Trump's desk, indicating ongoing legislative battles ahead.