Elon Musk Slams Trump’s “Beautiful Bill” for Ballooning Deficit and Slashing EV Support

Elon Musk has spoken out against Donald Trump’s newly approved spending legislation, criticizing it for expanding the national deficit and threatening the progress of the Department of Government Efficiency, or Doge. In an interview preview shared by CBS ahead of a full feature on Sunday, Musk called the bill “massive” and “disappointing,” arguing it sets back fiscal discipline and clean energy progress.
Musk had previously taken on a leading role within Doge, aiming to trim federal expenditures. But after Tesla’s profits nosedived and a political bet on a conservative court candidate failed, he distanced himself from the Trump administration. His criticism now takes direct aim at the so-called One Big Beautiful Bill Act, a legislative package that extends tax breaks while cutting support programs like Medicaid and SNAP.
The bill is also poised to eliminate EV tax credits and impose new fees, a move Musk once supported but which now appears detrimental to Tesla’s financial stability. As Tesla struggles with a 71% drop in profits and a steep stock decline, Musk’s disapproval may further isolate him from Trump, despite earlier campaign contributions totaling $200 million.