Musk’s Fallout with Trump Escalates Over “One Beautiful Bill” Budget Blowout

Elon Musk has sharply criticized the Trump administration’s flagship budget bill, warning that it jeopardizes both government efficiency and the electric vehicle sector. In a CBS preview released ahead of Sunday’s full interview, Musk lamented the bill’s impact on deficit spending and called its design “disappointing.”
The legislation—officially titled the One Big Beautiful Bill Act—fulfills Trump’s campaign promises by extending tax cuts and funding border projects. However, it also cuts over $1 trillion from welfare programs and clean energy initiatives while raising fees on EVs. The result: a projected $2.3 trillion increase in the national deficit.
Musk’s relationship with Trump has been under strain since Tesla’s financial downturn and his withdrawal from public administrative roles. With this latest public statement, Musk appears to be positioning himself as a vocal critic, not just of the bill, but of the broader direction Trump’s administration is taking—especially where technology, innovation, and budget responsibility intersect.