Elon Musk has publicly criticized Donald Trump’s latest legislative victory—the One Big Beautiful Bill Act—claiming it damages both America’s fiscal health and the electric vehicle industry. In an interview snippet released by CBS, Musk said the bill “increases the budget deficit and undermines the work” of the cost-cutting Doge team he once led.
The bill enacts tax cuts for corporations and individuals while gutting welfare programs and ending clean energy incentives, including the $7,500 EV credit. A new $250 fee on EVs has also been introduced. Despite these measures, the Congressional Budget Office estimates the bill will swell the deficit by $2.3 trillion.
This marks a sharp turn for Musk, who previously donated $200 million to Trump’s re-election campaign. Now, with Tesla’s profits plunging and market value shrinking, Musk appears to be shifting from political ally to outspoken critic—warning that Trump’s policies may harm the industries they once aimed to support.
Musk Turns on Trump: Spending Bill Undermines EV Industry and Budget Discipline
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