Elon Musk and GOP Clash Over Controversial Spending Bill

Hardline conservative Republicans in the U.S. Senate and billionaire Elon Musk maintain their opposition to President Donald Trump's tax-cut and spending bill. On Wednesday, the nonpartisan Congressional Budget Office estimated the bill could add $2.4 trillion to the $36.2 trillion U.S. debt pile. The Committee for a Responsible Federal Budget suggested costs could rise to $3 trillion over a decade or $5 trillion if tax cuts were made permanent.

Musk, a staunch GOP supporter and the top Republican donor for the 2024 election, criticized the bill on social media, urging for a version that wouldn't significantly increase the deficit. Top congressional Republicans, however, dismissed Musk's criticisms, with one White House official labeling them "infuriating." Despite some GOP lawmakers downplaying Musk's influence, the bill, termed "big, beautiful bill," faces lingering internal resistance due to its sweeping implications.

The House-passed bill proposes reducing federal revenue by $3.67 trillion over ten years while decreasing spending by $1.25 trillion. With a narrow Republican majority in the Senate, the bill's fate remains uncertain, notably contested by GOP deficit hawks and other moderates concerned about proposed Medicaid cuts and the rising number of uninsured Americans. The bill awaits further action in the Senate, facing criticism from Democrats who argue it disproportionately favors the wealthy.

(With inputs from agencies.)