Overview

• Elon Musk condemned the ‘Big Beautiful Bill’ on June 3, calling it a “disgusting abomination” and warning it would add $2.5 trillion to federal deficits.
• The package’s repeal of federal EV tax credits prompted Musk’s criticism, given Tesla’s reliance on those incentives.
• A Congressional Budget Office analysis projects the legislation would increase deficits by $2.4 trillion over the next decade.
• Republican senators remain divided on the package’s fiscal risks, with figures like Rand Paul echoing Musk’s debt concerns.
• The White House has dismissed Musk’s intervention and is urging Senate approval by the July 4 deadline.