According to reports from CNN among other foreign media outlets, on June 30th local time, amid the final debate in the Senate regarding President Trump’s “big and beautiful” tax and spending bill, American entrepreneur Elon Musk issued a stern threat through a post on social media platform X.
The post read: “Every Congressman who claimed to reduce government spending during the campaign but immediately voted for the largest debt increase in history should be ashamed to bow their heads! If this is the last thing I do on Earth, they will fail in the elections next year!”
Hours later, Musk further stated that if this “crazy spending bill” were passed, he would establish a new party called “American Party” immediately. “Our country needs a new party to replace either the Democrats or the Republicans, allowing people to truly have a voice,” his post read.
The report mentioned that Musk has long supported strict border control and deportation of illegal immigrants, aligning with Trump’s policies. However, the “big and beautiful” bill sparked a public rift between the two. Earlier this month, he had already proposed forming a new party in a series of posts, criticizing the record-breaking $5 trillion increase in the federal government’s debt ceiling under the bill.
According to estimates by the U.S. Congressional Budget Office, the Senate version of the “big and beautiful” bill would increase the national deficit by nearly $3.3 trillion over the next decade, higher than the House version’s $2.4 trillion. The bill includes extending the Republican tax cuts of 2017, funding large-scale deportation actions, including hiring nearly 20,000 immigration enforcement officers. To raise funds, the bill plans to impose stricter conditions on recipients of social welfare benefits such as Medicaid and food stamps.
As Musk stated, the bill would lead to “debt slavery,” and “subsidies outdated industries while severely harming future industries.” He claimed that cancelling electric vehicle and new energy subsidies was not the main reason for opposing the bill; the key issue was its enormous expenditure and failure to achieve the goal of reducing the U.S. government’s deficit.
Previously, Musk announced he would reduce political donations, stating he had “done enough,” but this time he has shifted his stance. In response to the U.S. Congress pushing this bill, Musk vowed to fund Republican lawmakers who share his views. According to information from the Federal Election Commission, Musk’s political action committee “America PAC” funded two Florida Republican candidates in March this year.