Elon Musk blasts Trump's tax bill as deficit disaster
Elon Musk has sharply criticized Donald Trump's tax bill, stating that it increases the deficit and undermines efforts to cut costs. This marks the most intense public disagreement to date between the billionaire and the president, whom he financially supported in the last election, reports the Financial Times.
Elon Musk, the former head of the government efficiency team, does not hold back in his criticism of the new tax bill introduced by the Trump administration.
In an interview with CBS Sunday Morning, Musk described the bill as "massive," stating that it actually increases the U.S. budget deficit while simultaneously undermining his team's efforts aimed at saving and reducing expenditures.
The bill, which recently passed unanimously through the House of Representatives and is awaiting a vote in the Senate, has been hailed by Trump as "arguably the most significant piece of Legislation that will ever be signed in the History of our Country." However, according to independent analyses, the document will cause the public debt to grow by more than $3.3 trillion over the next decade.
Musk criticizes
Musk, who has long warned that the U.S. could face bankruptcy if the deficit is not reduced, emphasizes that although the bill might be "big" or "beautiful," it doesn't necessarily mean it can be both. His comments deepen the distance between him and Trump, whom the billionaire supported financially in the last election with nearly $300 million.
Musk did not hide his frustration with the administration's actions, calling key trade advisor Peter Navarro "a moron" and opposing certain personnel cuts in government agencies. After resigning from the government efficiency team last month, Musk announced his return to intensive work on his companies, such as Tesla and SpaceX.
Meanwhile, there are allegations that the savings made by the team, which were supposed to amount to $2 trillion, were significantly exaggerated. A "Financial Times" investigation found that only a portion of these savings is confirmed, and the team's reports are full of errors and duplicates.
