Editor's PiCK
Musk Criticizes Trump's Tax Cut Bill as a 'Strategic Disaster for Future Industries'
Summary
- Tesla CEO Elon Musk stated that the 'Trump-style' tax reform bill introduced by the United States Senate will destroy millions of jobs in the US.
- Musk announced that the bill could bring a strategic disaster to the country by severely impacting future industries.
- The United States Senate revealed a draft tax and spending reform bill totaling $4.2 trillion and is expected to proceed with the voting process.
Elon Musk, the CEO of Tesla, strongly criticized the 'Trump-style' tax reform bill recently introduced by the United States Senate.
On the 29th, Musk claimed on his X (formerly Twitter), "This Senate bill will destroy millions of jobs in the United States and cause enormous strategic damage to the country." He added, "This is utter madness and a destructive bill," and continued, "While it subsidizes outdated industries, it deals a severe blow to future industries."
Just 17 days after expressing regret for previously criticizing President Trump's tax cuts and fiscal expansion policies on the 11th, Musk once again directly targeted and attacked Trump's latest tax reform proposal.
Meanwhile, the United States Senate recently unveiled a draft tax and spending reform bill totaling $4.2 trillion. The bill is expected to enter the voting process ahead of President Trump's legislative deadline (July 4). The draft includes parts of Trump's so-called 'One Big Beautiful Bill, OBBBA' initiative.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
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