Elon Musk Slams Trump’s Tax Bill, Says It Undermines Cost-Cutting Efforts

Elon Musk has taken aim at President Donald Trump’s latest tax and spending bill, calling it a blow to the cost-cutting efforts he helped lead within the U.S. government. In a preview clip from an upcoming interview with CBS’s Sunday Morning, Musk expressed dismay over the legislation, which significantly increases the national deficit.

“I was disappointed to see the massive spending bill, which increases the budget deficit … and undermines the work that the Doge team is doing,” Musk told CBS.

The “Doge” team Musk referred to is the Department of Government Efficiency, a cost-cutting initiative he had been leading since January. Though the Tesla CEO stepped back from his role in April following a poor earnings report and a failed political campaign investment, he remains publicly critical of government overspending.

The bill in question—officially titled the One Big Beautiful Bill Act—was narrowly passed by the House of Representatives last week. It fulfills several of Trump’s campaign promises, such as extending tax cuts for individuals and businesses, cutting clean energy incentives established under the Biden administration, and slashing funding for welfare programs like Medicaid and SNAP food assistance.

Despite these cuts, the Congressional Budget Office estimates the bill will still add roughly $2.3 trillion to the federal deficit. It also includes funding for Trump’s signature border wall project and expands resources for mass deportation operations.

Musk Disappointed Despite Past Support

“I think a bill can be big, or it can be beautiful. But I don’t know if it can be both. My personal opinion,” Musk added during the CBS interview, suggesting that the bill’s size and scope are not necessarily virtues.

The Tesla CEO’s criticism is notable given his past support for Trump. Musk’s super PAC donated $200 million to Trump’s reelection campaign, a move many believe played a key role in president Trump’s return to office.

But that support may be wavering. Trump’s bill threatens to eliminate a $7,500 federal tax credit for electric vehicles and would introduce a $250 annual registration fee for EV owners—measures that could directly impact Tesla. Musk had previously advocated for ending these incentives, but that was before recent financial struggles at the company.

Strained Relationship?

Musk’s latest comments are likely to fuel speculation about a growing divide between the two high-profile figures. Once seen as close allies, their relationship now appears increasingly strained over fiscal policy and economic priorities.

The full interview with Elon Musk will air this Sunday on CBS’s Sunday Morning.