“Disappointed”: Elon Musk Slams Trump’s Tax Plan for Undermining Budget Cuts

Elon Musk has publicly voiced his disapproval of Donald Trump’s latest tax and spending legislation, suggesting that it negates months of work to rein in government expenditure. In a CBS interview clip released ahead of Sunday’s broadcast, Musk said the bill “undermines the work that the Doge team is doing,” referring to the Department of Government Efficiency he led until April.
The One Big Beautiful Bill Act, recently approved by the House, combines extended tax cuts with deep slashes to welfare programs, while paradoxically adding $2.3 trillion to the national deficit. It also removes incentives for electric vehicles and increases annual registration fees, policies that could have serious consequences for Tesla.
Musk’s remarks are significant not only due to his former government role but also because of his financial support for Trump’s campaign. However, with Tesla’s stock plummeting and profits taking a hit, Musk now appears to be repositioning himself—criticizing Trump’s policies as both economically and politically flawed.