Former Doge chief and Tesla CEO Elon Musk on Saturday reinforced his criticism of US President Donald Trump's Big Beautiful Bill, warning that the legislation, pushed urgently by Republican senators, would destroy millions of jobs in America and cause harm to the country.
Calling the bill "Utterly insane and destructive," in a post on X, Musk said that this will severely damage the industries of the future.
"The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future," he said.
The Senate was holding a key test vote on "big, beautiful bill" Saturday evening, June 28. According to the CBS news, Trump has pressured Congress to pass the bill. In a statement, obtained by CBS News on Saturday, the White House said that a failure to pass the bill would be the "ultimate betrayal."
"The One Big Beautiful Bill Act reflects the shared priorities of both the Congress and the Administration. Therefore, the Congress should immediately pass this bill and send it to the President's desk by July 4, 2025, to show the American people that they are serious about 'promises made, promises kept,'" the statement said. "President Trump is committed to keeping his promises, and failure to pass this bill would be the ultimate betrayal."
The bill includes modifications to Medicaid provider tax rates, food benefit cost-sharing, SALT deduction limits and reduced wind and solar incentives. New guidelines restrict credits to projects starting before 2028 and implement additional taxes thereafter.
Musk vs Big Beautiful Bill
This is not for the first time when Musk disagreed with Trump regarding the administration's "big, beautiful" spending bill.
Earlier, on June 3, Musk had criticised the initial version, describing it as a "massive, outrageous, pork-filled Congressional spending bill [that] is a disgusting abomination."
"Shame on those who voted for it: you know you did wrong," Musk wrote in the June 3 post. "You know it."
Senate Budget Committee Chair Lindsey Graham, R-SC, presented the revised version on Friday evening, with Republicans aiming to present it to the president by July 4.
Musk argued that the bill favours traditional industries whilst harming future-focused sectors. The American Clean Power Association shared similar concerns, warning about frozen energy investments and increased household costs.
"With no warning, the Senate has proposed new language that would increase taxes on domestic energy production," Fox news quoted ACP CEO Jason Grumet stated.
"In what can only be described as 'midnight dumping,' the Senate has proposed a punitive tax hike targeting the fastest-growing sectors of our energy industry."
Grumet expressed concerns about threatened investments, energy security and manufacturing growth, particularly affecting rural communities.
Senator Elizabeth Warren, D-Mass., announced her efforts to ensure a complete reading of the extensive bill, stating on X: "Democrats need to use every second to fight back against the Big Beautiful Bill."
Calling the bill "Utterly insane and destructive," in a post on X, Musk said that this will severely damage the industries of the future.
"The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future," he said.
The Senate was holding a key test vote on "big, beautiful bill" Saturday evening, June 28. According to the CBS news, Trump has pressured Congress to pass the bill. In a statement, obtained by CBS News on Saturday, the White House said that a failure to pass the bill would be the "ultimate betrayal."
"The One Big Beautiful Bill Act reflects the shared priorities of both the Congress and the Administration. Therefore, the Congress should immediately pass this bill and send it to the President's desk by July 4, 2025, to show the American people that they are serious about 'promises made, promises kept,'" the statement said. "President Trump is committed to keeping his promises, and failure to pass this bill would be the ultimate betrayal."
The bill includes modifications to Medicaid provider tax rates, food benefit cost-sharing, SALT deduction limits and reduced wind and solar incentives. New guidelines restrict credits to projects starting before 2028 and implement additional taxes thereafter.
Musk vs Big Beautiful Bill
This is not for the first time when Musk disagreed with Trump regarding the administration's "big, beautiful" spending bill.
Earlier, on June 3, Musk had criticised the initial version, describing it as a "massive, outrageous, pork-filled Congressional spending bill [that] is a disgusting abomination."
"Shame on those who voted for it: you know you did wrong," Musk wrote in the June 3 post. "You know it."
Senate Budget Committee Chair Lindsey Graham, R-SC, presented the revised version on Friday evening, with Republicans aiming to present it to the president by July 4.
Musk argued that the bill favours traditional industries whilst harming future-focused sectors. The American Clean Power Association shared similar concerns, warning about frozen energy investments and increased household costs.
"With no warning, the Senate has proposed new language that would increase taxes on domestic energy production," Fox news quoted ACP CEO Jason Grumet stated.
"In what can only be described as 'midnight dumping,' the Senate has proposed a punitive tax hike targeting the fastest-growing sectors of our energy industry."
Grumet expressed concerns about threatened investments, energy security and manufacturing growth, particularly affecting rural communities.
Senator Elizabeth Warren, D-Mass., announced her efforts to ensure a complete reading of the extensive bill, stating on X: "Democrats need to use every second to fight back against the Big Beautiful Bill."
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