Billionaire and Tesla chief Elon Musk on Saturday slammed the latest Senate draft of President Donald Trump’s tax and spending bill, dubbed the “Big Beautiful Bill,” as “utterly insane and destructive,” warning it would inflict “immense strategic harm” on the United States.
“The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!” he wrote on X (formerly known as Twitter).
“It gives handouts to industries of the past while severely damaging industries of the future,” he added.
The 940-page proposal, backed by Senate Republicans racing to meet Trump’s July 4 deadline, combines deep spending cuts to programs like Medicaid and food stamps with tax breaks and increased funding for defence and deportations.
Trump has instructed Republicans, who currently hold the majority in both the House and Senate, to skip their holidays and deliver his sweeping tax-and-spending bill before July 4.
A key component of the bill is Trump’s USD 350 billion border and national security plan. This includes USD 46 billion for expanding the US-Mexico border wall, USD 45 billion to fund 100,000 migrant detention beds, and aggressive hiring for immigration enforcement, including 10,000 new ICE officers with USD 10,000 signing bonuses.
The initiative is central to Trump’s promise to launch the largest mass deportation effort in US history, targeting the removal of nearly 1 million people per year.
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. The bill now returns to the House for a final vote, with a heated debate over its economic and political effects.
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