Tesla and SpaceX CEO Elon Musk has gotten people talking again. Those are the headlines he’s generating with his political donations and cutting critiques of Donald Trump’s new-found love for big, bipartisan legislation. Musk, who has been actively involved in the political landscape, donated $200 million to Trump’s presidential campaign while supporting the former president’s initiatives financially. His continued participation has drawn significant concern. This continued to build after Musk announced he would withdraw from the Trump administration over a deep drop in Tesla profits.
Musk’s unexpected $100m investment in Trump’s campaign last year meant only one thing—they were all in with the former president. In addition to the campaign donation, he invested millions into a Supreme Court race that ultimately did not favor his chosen Republican candidate. With his political capital from this series of financial engagements, Musk has completely ransacked any Republican primary through politics hard-bought by capital. His recent attacks on Trump’s “One Big Beautiful Bill Act” have shocked many.
The bill in question has been surprisingly controversial, mainly because of its budgetary impacts on state spending and budget deficits. Under the Current Law baseline that Congress is required to use, the Congressional Budget Office projects that the legislation will add another $2.3 trillion to the federal deficit. On top of that, it recommends around $1 trillion in ultimately damaging cuts to benefits crucial to helping low-income households weather these difficult economic times. The bill devotes $1.7 billion to wall construction along the border with Mexico. It includes funding for recruiting and hiring personnel and accessing space needed to carry out mass deportations of undocumented people.
The truth is that since January, Musk has been running this “Department of Government Efficiency” (or DOGE, as they say at Tesla). His overarching purpose is to shrink the state’s budget. We’ve previously written about Ways and Means chairman Kevin Brady’s concern that Trump’s proposed tax bill would completely gut these important cost-cutting efforts. Specifically, Musk’s business interests are at stake due to the bill’s potential elimination of a $7,500 tax credit for electric vehicles. Specifically, the legislation creates a $250 per year electric vehicle registration fee. This new move layers on more financial confusion for consumers and businesses alike.
In a recent comment on the bill, Musk did not seem to believe the bill could be both. He articulated his opinion succinctly:
“I think a bill can be big, or it can be beautiful. But I don’t know if it can be both. My personal opinion.” – Elon Musk
Musk’s critique resonates with other political figures, including Rand Paul from Kentucky, who labeled the bill’s proposed cuts as “wimpy and anaemic,” predicting that they would “explode the debt.” Taken together, these comments indicate a growing concern over the fiscal responsibility associated with the legislation. Beyond that, they lament its proposed permanent impact on American families.
No matter the extent of his criticisms, Elon Musk’s subsidy-filled history with Trump is hard to ignore. His involvement in politics is multifaceted and complex, raising questions about his motivations and direction. He balances his role in the DOGE with expert precision. In reality, the dynamic between his commercial interests, party allegiance, and what he says in front of cameras is ever-changing.