Elon Musk Criticizes Trump's 940-Page Tax and Spending Bill. He described it as devastating for future industries and dangerous for America's strategic position. Republican lawmakers aim to pass the bill before July 4th.
Elon Musk-Trump: Elon Musk, the owner of giant companies like Tesla, SpaceX, and X, has bly criticized the new tax and spending bill proposed by former U.S. President Donald Trump. Musk has called the proposal "utterly insane and destructive" and warned that it could cause significant strategic damage to America. He shared this on the social media platform X. Musk's statement comes at a time when the Republican Party is trying to pass this proposal in the Senate before July 4th.
Sharp Comments on the 'Big Beautiful Bill'
Elon Musk sarcastically referred to this proposal as the 'Big Beautiful Bill.' This is a massive 940-page draft that includes several important issues affecting America's economic and social structure. Musk specifically expressed concern that the bill is trying to promote old industries by harming future industries.
Significant Cuts in Medicaid and Food Stamps
The bill proposes significant spending cuts in social welfare programs like Medicaid and Food Stamps. In return, tax exemptions, an increase in the defense budget, and additional funds for deportation programs are provided. Musk believes this balance is unstable and will increase social inequality. He clarified that this policy could deprive millions of American citizens of economic and social security.
Republican Party's Plan
Republican lawmakers, who currently hold a majority in both the Senate and the House, want to pass this bill before July 4th, at Trump's direction. Trump's plan is to make this proposal part of his national security agenda and make it an election issue.
Prioritizing Border Security and Deportation
A major part of the bill is related to America's border security and deportation programs. According to the proposal, $46 billion is allocated to strengthen the US-Mexico border wall, $45 billion for one lakh migrant detention beds, and $10,000 signing bonuses for 10,000 new ICE officers.
Part of a Mass Deportation Campaign
This plan proposed under Trump's leadership could be the largest mass deportation campaign in American history. Under this, the target is to deport approximately 1 million people from America every year. Elon Musk has expressed deep concern about this issue and has called it harmful to America's image and labor force.
