Musk backs Sen. Paul's criticism of Trump's megabill in first comment since it passed
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Musk has blasted President Donald Trump's "One Big Beautiful Bill," calling out the potential for the spending package to increase the national debt.
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investment
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July 4, 2025
03:08 PM
CNBC
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Tesla CEO Elon Musk made his first s since the passing of President Donald Trump's signature "One Big Beautiful Bill. "Musk backed a post by Sen
Rand Paul, R-Ky. , who said the bill's budget "explodes the deficit" and continues a pattern of "short-term politicking over long-term sustainability. "The independent Congressional Budget Office has said the bill could add $3. 4 trillion to the $36. 2 trillion of U
Debt over the next decade
Tesla CEO Elon Musk speaks alongside U
President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC
Kevin Dietsch | Getty ImagesTesla CEO Elon Musk, who bombarded President Donald Trump's signature spending bill for weeks, on Friday made his first s since the legislation passed
Musk backed a post on X by Sen
Rand Paul, R-Ky. , who said the bill's budget "explodes the deficit" and continues a pattern of "short-term politicking over long-term sustainability. "CNBC has reached out to the White House for
The House of Representatives narrowly passed the One Big Beautiful Bill Act on Thursday, sending it to Trump to sign into law
Paul and Musk have been vocal opponents of Trump's tax and spending bill, and repeatedly called out the potential for the spending package to increase the national debt
On Monday, Musk called it the "DEBT SLAVERY bill. "The independent Congressional Budget Office has said the bill could add $3. 4 trillion to the $36. 2 trillion of U
Debt over the next decade
The White House has labeled the agency as "partisan" and continuously refuted the CBO's estimates
Read more CNBC newsApple scores big victory with 'F1,' but AI is still a major blem in CupertinoCoreWeave is the first cloud vider to deploy Nvidia's AI chipsIPO market gets boost from Circle's 500% surge, sparking optimism that drought may be endingApple's China iPhone sales grows for the first time in two yearsThe bill includes trillions of dollars in tax cuts, increased spending for immigration enforcement and large cuts to funding for Medicaid and other grams
It also cuts tax credits and support for solar and wind energy and electric vehicles, a particularly sore spot for Musk, who has several companies that benefit from the grams. "I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do. ), and he just went CRAZY. " Trump wrote in a social media post in early June as the pair traded insults and threats
S of Tesla plummeted as the feud intensified, with the company losing $152 billion in market cap on June 5 and putting the company below $1 trillion in value
The stock has largely rebounded since, but is still below where it was trading before the ruckus with Trump
Stock Chart IconStock chart iconTesla one-month stock chart. -- CNBC's Kevin Breuninger and Erin Doherty contributed to this article.
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