Overview

• Elon Musk has labeled the $4 trillion spending and tax package the “Debt Slavery Bill,” calling it a “disgusting abomination” and urging his followers on X to contact lawmakers to “kill the bill.”
• The House-passed bill would extend Trump’s 2017 tax cuts, boost border security and defense spending, cut social safety nets and eliminate the $7,500 electric-vehicle tax credit, a move that directly affects Tesla.
• Congressional Budget Office projections show the measure adds $2.4 trillion to deficits over the next decade and raises the debt ceiling by $5 trillion, while the White House counters it will reduce the deficit by $6.6 trillion.
• Senate Republicans such as Rand Paul have voiced concerns about the debt ceiling increase and pressed for separate votes on fiscal targets and deeper spending cuts.
• Despite Musk’s threats to fund primary challengers in 2026, House Speaker Mike Johnson and President Trump continue to back the bill as a driver of economic growth.