Expresses Disappointment in CBS Interview
Tax Cut Bill Awaits Only House Approval
"Bill That Undermines DOGE Team, Very Disappointing"
Elon Musk, CEO of Tesla (left), is watching U.S. President Donald Trump speaking while wearing a "MAGA (Make America Great Again)" hat in the Oval Office of the White House on February 11 (local time). Photo by Reuters Yonhap News
Elon Musk, CEO of Tesla, who once served as President Donald Trump's "first buddy" and led the restructuring of the U.S. federal government, has expressed a negative view of the so-called "one big, beautiful bill." He stated that this bill would increase the U.S. government's fiscal deficit and criticized it for reversing the progress achieved by the Department of Government Efficiency (DOGE), expressing his disappointment.
According to reports from Bloomberg and the Financial Times (FT), Musk said in a pre-recorded interview with CBS's "Sunday Morning" aired on the night of the 27th (local time), "This bill is not simply a tax cut bill, but a bill that will further increase the fiscal deficit," adding, "It is very disappointing."
He argued that the bill undermines the work of the DOGE team he once led, stating, "A bill can be big or beautiful, but it cannot be both. That is my personal opinion."
According to the FT, this criticism is directed at the Republican-led tax reform bill aimed at fulfilling President Trump's tax cut pledge, and is the strongest criticism Musk has made toward the Trump administration to date.
The tax cut bill, dubbed the "one big, beautiful bill," passed the U.S. House of Representatives on the 22nd. The Republican Party aims to complete a Senate vote in June and have the bill signed by President Trump before July 4, U.S. Independence Day.
The bill includes provisions to extend key measures set to expire at the end of this year that were implemented under the 2017 tax cuts, such as lowering individual income tax rates, reducing the top corporate tax rate, and expanding the standard deduction and child tax credit. Medicaid (health insurance for low-income individuals) has been reduced, and the bill also contains a clause for the early termination of clean energy tax incentives.
The bill also includes funding for the "Golden Dome," the U.S. version of a missile defense system advocated by President Trump. It allocates $25 billion for the initial phase of the Golden Dome project. However, President Trump has stated that the total cost of construction will be $175 billion, while the Congressional Budget Office (CBO) has estimated that up to $542 billion may be required over the next 20 years.
If the bill passes the Senate, an increase in the U.S. government's fiscal deficit appears inevitable. According to the FT, if the bill is implemented as is, the U.S. national debt is projected to increase by more than $3.3 trillion (about 4,500 trillion won) over the next 10 years.
While fiscal conservatives continue to criticize this tax cut bill, President Trump is pressuring the Senate for swift passage, claiming the bill will be "the most important bill in American history."
Meanwhile, Musk, who stepped down as head of the White House DOGE last month, is reportedly focusing on running his companies, including Tesla, SpaceX, and X. Known as the largest political donor in the U.S., Musk announced at an economic forum in Qatar on the 20th that he would spend much less on future political campaigns. The FT noted that Musk poured more than $250 million into Trump's presidential campaign last year.
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