Donald Trump’s Big Beautiful Bill: How Will The Bill Affect Taxpayers? Why Is Elon Musk Opposing It?

The United States President Donald Trump had proposed a new tax plan which has been approved by the Senate Republicans on Tuesday.

This tax bill introduces $6,000 tax deduction for seniors and it is framed as a fulfilment of Trump's campaign pledge to eliminate taxes on Social Security benefits.

What Is The Big Beautiful Bill?

The One Big Beautiful Act (OBBBA) or the Big Beautiful Bill is a proposed budget reconciliation bill in the 119th United States Congress.

According to a Reuters report, the Republican-controlled US House of Representatives on Thursday advanced President Donald Trump's sweeping tax-cut and spending bill, a procedural step setting the stage for possible passage of the legislation in a vote expected later in the day.

The bill primarily claims to make the 2017 Trump tax cuts permanent, revitalizes the US military, secures the border of the United States and reduces government spending by hundreds of billions of dollars.

The House voted 219-213 to move forward.

After several hours of delays and negotiations, Speaker Mike Johnson achieved an initial win by securing enough support to bring the bill up for debate and the House voted 219 to 213 in favour, highlighting that previously resistant Republicans had agreed to move forward. However, there is still time until a final approval arrives.

Why Is Elon Musk Opposing The Bill?

Former Trump supporter Elon Musk, has now turned into his foe after several public disagreements with him and is staunchly opposing the tax bill.

The Tesla and SpaceX CEO Elon Musk unloaded on the tax and spending bill saying that Trump is pushing Republicans to quickly ram through Congress.

Musk has labelled the OBBBA as a "DEBT SLAVERY bill" and is calling out its supporters by name.

Musk had initially spent nearly $290 million on Trump's Presidential campaign in the process of backing him and other republicans in the 2024 election cycle and beyond.

In a series of posts on X, Musk wrote, "Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!"

Musk has been sounding off the bill over provisions that would hike the debt ceiling by trillions of dollars and roll back clean energy credits while offering a new tax incentive for coal production.

Further, Musk went on to criticize Trump's bill on Monday afternoon, writing, "It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!"

One of the primary reasons behind this opposition is that Tesla’s energy division sells solar panels and the Senate version of the bill would totally repeal federal subsidies to the wind and solar industries for the projects placed in service after 2027.

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