Overview

• Musk vowed to fund and support primary challengers to any Republican who votes for the reconciliation package, saying backers betrayed their campaign promises to cut spending.
• He denounced the bill’s record $5 trillion debt-ceiling increase as “insane” and branded the GOP the “Porky Pig Party” for endorsing it.
• Musk floated the formation of a new “America Party” to break the perceived two-party monopoly if the bill becomes law.
• The “One Big, Beautiful Bill” would make Trump’s 2017 tax cuts permanent, boost border security funding, and ease energy regulations but is projected to add $3.3 trillion to the deficit and cut Medicaid coverage for 11.8 million people over ten years.
• Under reconciliation rules, Senate Republicans can lose no more than three votes and are racing through a vote-a-rama to send the measure to Trump’s desk by his self-imposed July 4 deadline.