Musk Slams Trump’s Spending Bill as ‘Debt Slavery’
Tesla CEO criticizes the legislation’s impact on the national debt and EV incentives.
After weeks of criticizing **President Donald Trump**’s spending bill, **Tesla** CEO **Elon Musk** has officially commented since its passage, echoing concerns about its impact on the national debt.
Key Development
**Musk** supported an X post by Sen. **Rand Paul**, R-Ky., who argued the bill excessively increases the deficit, continuing short-sighted political practices detrimental to lasting fiscal health.
BREAKING: Today the Senate passed a budget deal that explodes the deficit. It continues the short-term politicking over long-term sustainability that is bankrupting our nation.
— Senator Rand Paul (@RandPaul) December 6, 2023
On Monday, **Musk** had already labeled the bill as a “DEBT SLAVERY bill.”
The non-partisan Congressional Budget Office estimates the bill could add $3.4 trillion to the already massive $36.2 trillion national debt over the next decade. In comparison, the total U.S. debt held by the public amounted to $24.6 trillion in 2022 (CBO, 2023).
Contentious Legislation
The House of Representatives narrowly approved the One Big Beautiful Bill Act on Thursday, sending it to **Trump** for his signature.
**Paul** and **Musk** have both been outspoken critics, frequently pointing out the potential of the spending package to significantly increase the national debt.
Bill Details
The legislation encompasses significant tax cuts, increased funding for immigration enforcement, and considerable reductions in Medicaid and other social programs.
Furthermore, it curtails tax credits and support mechanisms for solar, wind, and electric vehicle initiatives. This particular aspect has clearly angered **Musk**, given his business interests benefit from these programs.
**Trump** posted on social media in early June, “I took away his Ev Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!”
as their feud escalated.
As tensions rose, **Tesla’s** stock value suffered, with the company’s market capitalization dropping by $152 billion on June 5, pushing its valuation below $1 trillion. Although the stock has largely recovered, it remains below its pre-dispute level.
