Billionaire tech entrepreneur Elon Musk has slammed the latest version of Donald Trump’s tax and spending bill, calling it “utterly insane and destructive”.
The Tesla and SpaceX CEO took to social media to express his outrage, saying the package would “destroy millions of jobs in America and cause immense strategic harm to our country!”
A Threat to the Future
Musk criticized the bill for giving “handouts to industries of the past while severely damaging industries of the future”.
He warned that passing the package would be “political suicide for the Republican Party”.
This isn’t the first time Musk has clashed with the Trump administration. Earlier this month, he denounced the House version of the bill as a “disgusting abomination”.
A Deepening Rift
Musk’s criticism has triggered a deep and public rift between the billionaire and the president. However, in recent weeks, Musk has been working to mend relations.
On Saturday, Musk posted a series of disparaging comments about the Senate version of the bill, which he argues would undermine US investments in renewable energy.
A Rocky Path Ahead
The bill faces a rocky path in the Senate, with Republicans hoping to use their majorities to overcome Democratic opposition.
However, several Republican senators are concerned about provisions that would reduce spending on Medicaid and food stamps to help cover the cost of extending Trump’s tax breaks.
Fiscal conservatives are also pushing for steeper cuts, making the future of the bill uncertain.