Musk breaks with Trump over massive spending bill
Musk, who played a key role in Trump’s 2024 re-election and previously led a government task force on reducing federal spending, said the legislation "increases the budget deficit, not just decreases it".
Elon Musk has publicly criticised a major tax and spending bill backed by Donald Trump, saying it goes against the cost-cutting work he had done for the president and increases the US budget deficit.
Speaking to CBS News, Musk said he was "disappointed" by the multi-trillion-dollar plan, which passed the House of Representatives last week and now heads to the Senate.
The bill, which Trump describes as his "big, beautiful" plan, includes large tax breaks, higher defence spending, and an increase in the debt ceiling to $4 trillion.
"I was disappointed to see the massive spending bill, frankly," Musk told CBS Sunday Morning. A clip of the interview was released ahead of its full broadcast.
Musk, who played a key role in Trump’s 2024 re-election and previously led a government task force on reducing federal spending, said the legislation "increases the budget deficit, not just decreases it".
The bill is expected to raise the deficit by about $600 billion in the next fiscal year. Musk also said the new policy "undermines the work that the DOGE team is doing", referring to the Department of Government Efficiency, which he previously led.
“I think a bill can be big or beautiful. I don't know if it can be both,” Musk said, responding to Trump's nickname for the plan.
The bill has sparked tension within Trump’s Republican Party, with lawmakers split over the tax extensions, defence spending, and funding for mass deportations.
The plan aims to extend tax cuts from 2017 and pump more money into security and border operations.
Musk, who donated over $250 million to support Trump’s return to office, has recently pledged to reduce his political involvement.
He said he intends to focus more on leading Tesla, where he has committed to remain for at least five more years.
Last week, Musk announced he would step back from his role at Doge, after facing criticism over his drive to cut $1 trillion in government spending, which included layoffs and slashing foreign aid.
"I did what needed to be done," Musk said, defending his actions, which he and Trump had previously justified as necessary to eliminate fraud and waste. Doge claims it has saved $175 billion, though a BBC review said there is little evidence to support that number.
