‘Will destroy millions of jobs’: Elon Musk renews attack on Trump’s ‘Big Beautiful Bill’

Billionaire entrepreneur Elon Musk on Saturday renewed his criticism of President Donald Trump’s flagship tax and spending proposal, calling the latest Senate draft of the so-called “Big Beautiful Bill” “utterly insane and destructive.”

“The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!” Musk wrote on X, continuing a public campaign against the legislation. “It gives handouts to industries of the past while severely damaging industries of the future.”

The 940-page bill — currently being fast-tracked through the Senate — bundles sharp spending cuts to federal programs like Medicaid and food stamps with tax breaks and expanded funding for defense and border enforcement. Backed by Senate Republicans aiming to meet Trump’s July 4 deadline, the measure also includes a $350 billion national security plan central to the president’s immigration agenda.

Republican leaders are using their Senate majority to push the bill past Democratic objections, but some GOP senators worry about cutting programs like Medicaid and food stamps. 

Key provisions include $46 billion for US-Mexico border wall expansion, $45 billion for 100,000 migrant detention beds, and hiring of 10,000 new ICE officers, each with a $10,000 signing bonus. Trump has directed the GOP, which holds majorities in both chambers, to push the legislation through without delay.

Musk, a top Republican donor in the 2024 election cycle, has broken ranks over what he sees as irresponsible fiscal policy. Last month, he launched a highly visible online campaign against the bill, then known as H.R.1, after it passed the House. “Call your Senator. Call your Congressman. Bankrupting America is NOT ok! KILL the BILL,” he posted to 180 million followers, sharing a mock-up of a “Kill Bill” poster.

The bill seeks to extend the 2017 tax cuts, increase defense and immigration enforcement funding, and raise the debt ceiling. While Trump loyalists have hailed it as a blueprint for national revival, Musk has denounced it as “a disgusting abomination.”

“The largest increase in the debt ceiling in US history!” Musk wrote. “Congress is making America bankrupt.” He warned the bill would lead to a $2.5 trillion deficit spike and a $5 trillion increase in national debt — figures consistent with projections from the Congressional Budget Office.

“Debt Slavery,” Musk called it, adding: “In November next year, we fire all politicians who betrayed the American people.” He has also threatened to support primary challengers against Republicans who vote in favor of the bill.

Despite some internal GOP hesitation over cuts to social programs, the bill is expected to return to the House for a final vote next week, with debate intensifying over its long-term economic consequences.