The Billionaire's Brash Stance
Musk targets Trump in his latest move.
Austin (dpa) - Just days after distancing himself from Washington, tech tycoon Elon Musk finds himself locking horns with President Donald Trump. Musk took a swipe at the tax and spending bill backed by Trump, calling it a "gut-wrenching atrocity." He then delivered a stern warning to Congress members who support it: "Bloody November of next year, we'll sack the politicians who've betrayed the American people."
The midterm elections in the US are slated for early November 2026, where all members of the House of Representatives, and about a third of Senators, will meet the voters.
For Congress members, Elon Musk's words aren't idle bluster. After all, he funneled more than $250 million into Trump's re-election campaign last year. Musk, the world's wealthiest individual with an estimated net worth of $400 billion (mostly from stocks), can effortlessly loosen substantial funds for political campaigns.
Musk vs. The White House
The budget bill, which Trump considers a "beauty of a bill," barely scraped through the House of Representatives in May with a slim majority. However, some members of Trump's Republican Party in the Senate are obstructing it. They disapprove of the proposed hike in the debt ceiling and demand stricter budget cuts.
Trump is attempting to sway the skeptical Republican senators into line. Elon Musk's intervention undermines these efforts, and he's actively meddling in the relationship between the president and Congress. Trump usually threatens to back opposing candidates in the next election against rebellious Congress members.
At first, the White House dismissed Musk's criticism: "The president knows Musk's take on this bill," said spokeswoman Karoline Leavitt. But that was before Musk's warning to Congress members.
Musk: "I've Had Enough!"
Musk stated two weeks ago that he will likely spend less on political causes in the future. "I think I've done enough," he explained in an interview. However, he hinted that if he sees a compelling reason for political spending in the future, he won't hesitate.
Musk had already criticized the bill in the preceding days, yet it was with more measured language. For instance, he expressed dismay over the Doge committee undermining the reduction of government spending he championed. He also conveyed to CBS that he was in a precarious position, as he didn't want to lambaste the government but also couldn't support every decision they make. Now, Musk prefaced his harsh criticism with the words: "Sorry, but I can't take this crap anymore."
Cheers from an Unexpected Quarter
On his platform X, Musk criticized multiple aspects of the bill, including the potential to drive the already astronomical budget deficit and national debt to unprecedented levels. He went as far as to say, "Y'all should hang your heads in shame—you know that this ain't right."
The package includes, among other things, plans to make permanent the tax cuts from Trump's first term and exempt tips and overtime pay from taxation, as promised during the campaign. It is to be partly funded by cuts to social benefits, which is facing strong opposition from Democrats.
Surprising Fan: the Left-wing Democrat Senator Bernie Sanders
"Musk is spot-on," Sanders tweeted. He emphasized the fact that the wealthiest Americans received $664 billion in tax cuts, while $290 billion was slashed from food assistance for the needy.
Washington Defeats
Musk cited a rule limiting private companies working with the government to 130 days a year as the cause of his departure from Washington. However, there were indications in recent months that Musk was losing ground within Trump's inner circle. He apparently lost power struggles with various cabinet members. Most recently, Trump decided to drop the previous NASA top job candidate, who was close to Musk, from the running.
- Elon Musk's financial backing could potentially influence the outcome of the midterm elections in the US, as he has pledged significant funds for political campaigns.
- The controversial tax and spending bill, which President Trump supports, faces objections from certain senators within his own party due to the proposed hike in the debt ceiling and demand for stricter budget cuts.
- Senator Bernie Sanders, typically associated with the left-wing Democrats, has surprisingly expressed agreement with Elon Musk's criticism of the tax and spending bill, highlighting the disparity of tax cuts for the wealthy against cuts in food assistance for the needy.
