Elon Musk Slams Trump's Tax Bill, Warns of Economic Fallout

Elon Musk has publicly condemned President Donald Trump's ambitious tax and spending cuts bill, arguing that it jeopardizes millions of jobs and hampers emerging industries. The Tesla and SpaceX CEO took to social media to express his concerns as Republican senators prepared for an important vote on the legislation.

Musk described the Senate's draft bill as a 'political suicide' for the Republican Party and criticized its provision as detrimental to America's economic future. This is not the first time Musk has clashed with the current administration, having previously labeled the bill as 'pork-filled' and an 'abomination.'

Despite his waning political clout, Musk's financial backing remains significant, as he has invested heavily in Trump's 2024 campaign. It is yet to be seen how this recent verbal skirmish will affect his relationship with the White House, which has yet to issue a statement.

(With inputs from agencies.)