Elon Musk and conservative U.S. Senate Republicans are doubling down on their opposition to a Trump-backed tax-cut and spending bill, igniting a high-stakes debate over America's fiscal future. The proposed legislation – extending 2017 tax cuts while boosting military and border security funding – faces fierce criticism for potentially adding up to $5 trillion to the national debt over a decade, according to nonpartisan analysts.
The Congressional Budget Office estimates the bill would reduce federal revenues by $3.67 trillion while cutting spending by $1.25 trillion, creating what Musk called "America's fast lane to debt slavery" in a social media post. The Tesla CEO, who led a government efficiency initiative, argues the House-passed version fails to sufficiently curb expenditures.
Republican Senator Ron Johnson echoed these concerns, stating the measure doesn't address worsening budget deficits. However, Senate Majority Leader John Thune remains confident: "Failure is not an option. We will get this done," he told reporters after meeting with Trump.
The 1,100-page bill includes controversial provisions such as canceling green energy incentives, tightening welfare eligibility, and funding expanded border enforcement. Democrats condemn it as favoring the wealthy, while White House officials downplay Musk's influence, calling his stance "one disagreement" in an otherwise aligned relationship.
With the debt ceiling deadline approaching this summer, lawmakers face mounting pressure to reconcile fiscal priorities. As the Senate prepares to debate the bill, its outcome could reshape U.S. economic policy and test Republican unity ahead of the 2024 elections.
