How Long Has It Been Since the Breakup? "Disgusting"... Why Did Musk Attack Trump?

Korea Economic Daily

Summary

Elon Musk, CEO of Tesla, reportedly criticized the Trump administration's tax cut bill, claiming it would cause the U.S. fiscal deficit to soar to $2.5 trillion.
Even after his DOGE chief tenure ended, Musk emphasized that the congressional budget bill would impose an unbearable debt burden on the American people.
The tax cut bill extends clauses such as cuts to individual and corporate tax rates as well as expanded deductions, suggesting that investors should pay attention to changes in budget policy.

After the DOGE Chief Tenure Ended

Criticizing the Trump Administration's Tax Cut Law

Elon Musk, CEO of Tesla, has recently intensified his criticism of the Trump administration after officially ending his role in it.

On the 3rd (local time), Musk repeatedly criticized the Trump administration's tax cut bill via X (formerly Twitter). In a post made that day, Musk wrote, "Sorry, but I can't take it anymore," adding, "This enormous, outrageous, and wasteful congressional budget bill is disgusting and repulsive."

He continued, "It will increase the already massive fiscal deficit to $2.5 trillion (!!!), imposing an unbearable debt burden on the American people." A few minutes later, he shared another post recording the trend of the U.S. fiscal deficit increase, criticizing, "Congress is bankrupting America."

The White House showed little concern regarding Musk's criticism. In a briefing that day, Caroline Leavitt, the White House spokesperson, was asked about Musk's remarks and replied, "The President already knows what Elon Musk thinks about this bill," and dismissed it with, "That doesn’t change the President’s opinion."

After spending at least $132 million (about ₩183 billion) in last year's presidential election and becoming a leading contributor to Trump's victory, Musk was appointed head of the Office of Government Efficiency (DOGE), where he led the restructuring of the federal government and spearheaded budget and spending cuts.

Musk announced that he ended his tenure as a 'special public official' after 130 days of activity, with his term concluding at the end of last month. On the 30th of last month, President Trump held a farewell ceremony at the White House and presented Musk with a 'golden key' as a gift.

However, on the night before announcing the end of his DOGE term, Musk opened the floodgates of criticism in a televised interview by referring to President Trump's tax cut bill and stating, "I was disappointed to see a large-scale spending bill that increases the fiscal deficit." Trump dubbed this tax bill, which passed the House on the 22nd of last month, "one big, beautiful bill."

This bill includes provisions such as lowering individual income tax rates, reducing the top corporate tax rate, and expanding standard income deductions and child tax credits—key features implemented under the 2017 tax cut law, scheduled to expire at the end of this year but now extended.

Reporter Jonghyeon Song scream@hankyung.com