Elon Musk backs criticism of Trump’s tax bill in first comment since it passed

Tesla (NASDAQ:TSLA) Chief Executive Officer Elon Musk, who has been openly critical of Donald Trump’s ‘Big Beautiful Bill’ made his first comments on Friday since the legislation passed.

Musk backed a post by Senator Rand Paul on social media platform X, who said that the bill “explodes the deficit in the near term.”

The U.S. House of Representatives on Thursday passed President Trump’s tax and spending package known as the “One Big Beautiful Bill.”

All Democrats in the House voted against the legislation. The only Republicans who voted against the legislation were Thomas Massie and Brian Fitzpatrick. The final vote was 218-214.

Elon Musk has sharply criticized Trump’s tax and spending proposal, calling it “utterly insane and destructive.” “This Senate bill will destroy millions of American jobs and inflict significant long-term harm on the country,” Musk said last week in a post on X.

Musk has warned that the bill would exacerbate the federal deficit and increase the national debt.

The bill contains $4.5T in tax cuts, but a Congressional Budget Office report said it will raise the deficit by $3.3T over the next 10 years. It will also cut $930B from Medicaid, Medicare, and Affordable Care Act programs over 10 years.

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