Tech Titan's Showdown with the President
Musk pursues legal action against Trump.
New York (dpa) - Elon Musk, the tech mogul known for his brash statements, is at odds with President Donald Trump over a recent tax and spending bill. Musk, in a bold move, called the legislation an "obscene abomination." He further warned congressional members who back the bill: "Next November, we'll unceremoniously oust the politicians gutting our nation."
Midterm elections are scheduled for November 2026, where all House representatives and approximately one-third of senators will face voters.
Musk's critical remarks pose a serious threat to congressional members, considering he contributed over $250 million to Trump's campaign in 2024. As the richest man globally, with an estimated net worth of $400 billion, Musk can easily shell out substantial funds for election campaigns.
Musk Sets Sights on the White House
The reviled bill, which Trump dubs the "splendid law," barely scraped through the House of Representatives in May with a razor-thin majority. However, several Republican senators oppose it due to the proposed increase in the debt ceiling and their demand for tighter spending cuts.
Trump is currently attempting to bring recalcitrant senators in line. Musk's intervention complicates these efforts and marks an unusual intrusion in the relationship between the president and Congress. Trump typically retaliates against rebellious members of Congress by supporting their political rivals.
The White House initially dismissed Musk's criticism, stating, "The President is fully aware of Elon Musk's opinions on this law." However, Musk’s warning to congressional members may have changed Trump's stance.
Musk: "I've Had Enough"
Two weeks ago, Musk hinted at reducing his political donations in the future, stating, "I've done enough." But he also added that if there's a compelling reason to fund politics in the future, he would do so.
While Musk has expressed dissatisfaction with the bill in recent days, his criticism was more measured. He expressed displeasure that the committee's decisions undermined the budget cuts he championed. He also shared his frustration due to being caught between supporting the government and condemning its decisions, stating, "I can't keep my mouth shut anymore."
Left-Leaning Democrats Join Musk's Chorus
On his online platform X, Musk criticized the bill for exacerbating the already gargantuan budget deficit and national debt. He criticized the legislation's permanent tax cuts from Trump's first term, refusal to tax tips and overtime pay, and financing through social benefits cuts, all of which face strong opposition from the Democrats.
Senator Bernie Sanders, a left-leaning Democrat, praised Musk's sentiments, writing on X, "Musks is right." He pointed out that the wealthiest Americans received $664 billion in tax breaks while $290 billion was cut from food assistance for the needy.
Setbacks in Washington
Musk cited the rule limiting the terms of outside government employees to 130 days per year as the reason for his departure from Washington. However, signs of Musk's waning influence in Trump's circle surfaced in recent months. Reports suggest that Musk lost power struggles with several cabinet members, ultimately leading to Trump dropping Musk's preferred candidate for NASA's head.
- Despite contributing over $250 million to Trump's 2024 campaign, Musk's critical remarks towards a recent tax and spending bill pose a significant threat to congressional members due to his immense financial resources.
- The tech mogul, Elon Musk, has expressed dissatisfaction with the tax and spending bill, criticizing its impact on the budget deficit, permanent tax cuts from Trump's first term, refusal to tax tips and overtime pay, and financing through social benefits cuts.
- Left-leaning Democrats, like Senator Bernie Sanders, have joined Musk's chorus, voicing agreement with his criticisms of the bill and highlighting the discrepancy between the wealthiest Americans receiving significant tax breaks and cuts to food assistance for the needy.
