Overview

• Musk formally ended his 130-day term as head of the Department of Government Efficiency and announced his departure in a post on X.
• He publicly rejected the “Big Beautiful Bill” after CBO estimates showed it would raise the federal deficit by $3.8 trillion over ten years.
• The DOGE initiative had targeted $1 trillion in spending cuts but fell significantly short of its goal due to bureaucratic resistance.
• Tesla sales have slumped and SpaceX’s recent Starship test failures have prompted Musk to refocus on his core businesses.
• Trump’s spending package extends 2018 tax cuts, boosts defense and border enforcement funding and cleared the House by a single vote, leaving its Senate prospects uncertain.