The US president has expressed his disappointment after the billionaire publicly disagreed with his proposed tax and spending plan.
President Trump has stated his “very disappointed” reaction to Elon Musk’s criticism of his tax and spending bill.
Musk, who heads Tesla, SpaceX, and X, recently resigned from his position leading the Department of Government Efficiency (DOGE), a Trump administration initiative focused on federal spending cuts. He cited a return to his business interests as the reason for stepping down.
Musk has criticized the ‘Big Beautiful Bill,’ arguing it would increase the national debt, undermining DOGE’s objectives.
In comments to reporters on Thursday, Trump stated that Musk, who he claimed was fully informed about the bill, only raised objections “when he found out that we’re going to have to cut the EV mandate, because that’s billions and billions of dollars…”
He added: “And if you saw the statements he made about me … I’m very disappointed in Elon. I’ve helped Elon a lot.”
Musk has intensified his criticism of Trump’s tax-cut bill, warning this week that it would lead the US into “debt slavery” and urging lawmakers to “KILL the BILL.” The House approved the legislation in May, and Trump intends to sign it into law by July 4th, pending Senate approval.
Musk disputed Trump’s claim of his detailed knowledge of the bill, stating on X that it was “False,” and that he was never shown the legislation.
In a separate post, the billionaire accused the president of “ingratitude.”
“Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate,” he wrote.
The bill, a key priority for Trump, aims to make the 2017 tax cuts permanent and implement further tax reductions, while also increasing spending on defense and border security.
Critics argue that it would disproportionately benefit the wealthy and significantly increase the national debt. According to a Congressional Budget Office analysis, the bill is projected to add $2.4 trillion to deficits over the next decade and result in 10.9 million more Americans without health insurance by 2034.
Musk, who was credited with achieving roughly $175 billion in savings through agency closures and workforce reductions under DOGE, expressed concern that the bill’s provisions could negate those achievements.