The conflict between Donald Trump and Elon Musk has erupted over a new bill promising tax cuts and spending changes that could significantly increase the U.S. debt load.
Bill and its debt implications
The Congressional Budget Office warns that the bill will add over $3 trillion to the national debt. The bill cuts green energy support while boosting fossil fuels. Musk argues this threatens the country’s financial stability.
Musk against green energy cuts
Elon Musk criticized the bill, calling it the 'DEBT SLAVERY bill.' He states that the bill will destroy jobs and increase America's financial risks.
Political consequences of the bill
Musk believes the bill is 'political suicide for the Republican Party.' He points out that previous tax reforms under Trump led to losses for Republicans and that this new legislation could repeat that narrative in 2026.
The conflict between Trump and Musk highlights the critical importance of U.S. economic policy. Cryptocurrency investors are watching closely, as the implications of the new law could significantly affect the country’s financial stability.
