Close Menu
Cryptosphere Update
  • Crypto News
  • Economy
  • Crypto Markets
  • World News
  • Technology
  • Breaking Views
What's Hot

24/7 Takeover: How Cryptocurrency’s $130 Billion TradFi Surge Is Absorbing Global Commodity Trading

March 7, 2026

Former Michigan State football coach Sherone Moore enters plea deal

March 7, 2026

Clinton reflects on friendship with Pastor Jesse Jackson

March 6, 2026
Facebook X (Twitter) Instagram
Trending
  • 24/7 Takeover: How Cryptocurrency’s $130 Billion TradFi Surge Is Absorbing Global Commodity Trading
  • Former Michigan State football coach Sherone Moore enters plea deal
  • Clinton reflects on friendship with Pastor Jesse Jackson
  • The war between the US and Iran is already hitting consumers’ pockets. Here’s how to do it
  • Utexo raises $7.5 million to launch Bitcoin-native USDT payments infrastructure
  • Employment statistics for February 2026:
  • The 2026 labor market is expected to begin to take shape with the February employment statistics
  • Altcoin Season “The Game Is Over”: Matt Hogan
Facebook X (Twitter) Instagram
Cryptosphere Update
  • Crypto News
  • Economy
  • Crypto Markets
  • World News
  • Technology
  • Breaking Views
Crypto Heatmap
Cryptosphere Update
Home » Musk says Trump’s tax bill will undermine Doge
Economy

Musk says Trump’s tax bill will undermine Doge

Leslie StewartBy Leslie StewartMay 28, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Musk Says Trump's Tax Bill Will Undermine Doge
Share
Facebook Twitter LinkedIn Pinterest Email

Elon Musk criticized President Donald Trump’s signature spending bill, saying it was against the work he’s done recently to accomplish it through House votes and reduce wasted government spending.

In an interview airing on June 1 “CBS Sunday Morning,” the world’s wealthiest people and head of the Advisory Committee of the Bureau of Government Efficiency said that the “big, beautiful bill” would not help the country’s finances.

“I was disappointed to see the massive spending bills openly. This not only reduces it, it also increases the budget deficit and undermines the work the Doge team is doing,” Musk said in a clip of the program she shares on social media platform X.

Trump responded to criticism from his top campaign donors on Wednesday.

“We had to get it in the house,” Trump said of the massive spending bill. “The house, we didn’t have any Democrats,” he said, endorsing the package.

“I’m not happy with any particular aspect of it,” the president said, “but I’m excited about the other aspects of it. That’s how they do it.”

The congressional Budget Office, a non-party agency that conducts economic analysis of Congress, says a series of big, beautiful bill laws are projected to raise the federal deficit to $3.8 trillion over the next decade. The deficit was on track in 2025 at nearly $2 trillion, with citizen debt currently at $36.2 trillion.

“I think the bill will grow or maybe it’s beautiful, but I don’t know if it’s both,” Musk said in a CBS clip.

Trump and Congressional Republicans refute the bill will reduce spending in key areas and generate sufficient growth to compensate for tax cuts. However, the law is expected to face strong resistance in the Senate.

On his side, Musk pulled back his doge work. Tesla and SpaceX. Musks have been a frequent presence in the White House since Trump’s election.

“Doge has become a whip boy for everything,” Musk said in an interview with the Washington Post Tuesday. “So something bad will happen everywhere and we’ll blame it if it had nothing to do with it.”

House Speaker Mike Johnson, R-La. praised Doge and Musk for their work on Wednesday.

“The house is enthusiastic and ready to act on Doge’s findings, so it can deliver even more cuts to the massive government that the President (Donald) wants and demands from Americans,” Johnson wrote in X’s post.

However, before the House votes to approve the cuts, the White House will need to formally request permission to cancel some of the money Congress has set up for certain programs.

“When the White House sends its retirement package to the House, we will act quickly by passing laws to codify the cuts,” Johnson said, using the term Congress-sanctioned White House requests.

Despite Johnson’s cheerful tone, dramatic cuts and federal workforce against Musk and Doge’s government grant programs have been met with resistance in Congress.

Doge says it has saved $170 billion in taxpayer money since it began in January by targeting government waste and redundancy.

But what counts as wasted spending has proven to be a deeply divisive issue.

In February and March alone, Doge-related moves were responsible for around 275,000 government layoffs, according to Challenger, Gray & Christmas and Christmas Challenger.

Musk’s work with Trump, and his frequently inflammatory political rhetoric, have led to backlash and widespread protest against his automotive business, Tesla.

“People were burning Teslas. Why do you do that? It’s really not cool,” Musk told the Post.

– CNBC’s Erin Doherty and Lora Kolodny contributed.

bill Doge Musk tax Trumps undermine
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Leslie
Leslie Stewart

Related Posts

The war between the US and Iran is already hitting consumers’ pockets. Here’s how to do it

March 6, 2026

Employment statistics for February 2026:

March 6, 2026

UAE considers freezing Iranian assets as Middle East conflict intensifies: WSJ

March 6, 2026

Private companies added 63,000 jobs in February, according to ADP, but that was revised to just 11,000 in January.

March 4, 2026
Add A Comment

Comments are closed.

Popular Posts

PPI January 2026:

February 27, 2026

The US military reportedly shot down a Border Patrol drone with a laser, sparking a new air force blockade and derision from lawmakers.

February 27, 2026

Bitcoin traders wary of leverage as market uncertainty soars – Learn more

February 21, 2026

24/7 Takeover: How Cryptocurrency’s $130 Billion TradFi Surge Is Absorbing Global Commodity Trading

March 7, 2026
Latest Posts

24/7 Takeover: How Cryptocurrency’s $130 Billion TradFi Surge Is Absorbing Global Commodity Trading

March 7, 2026

Former Michigan State football coach Sherone Moore enters plea deal

March 7, 2026

Clinton reflects on friendship with Pastor Jesse Jackson

March 6, 2026

Subscribe to Updates

Subscribe to our newsletter and stay updated with the latest news and exclusive offers.

About
About

At Cryptosphere Update, we are dedicated to bringing you in-depth coverage of the rapidly evolving crypto landscape, from market trends and emerging blockchain projects to regulatory developments and expert analysis. Our mission is to keep you informed and ahead of the curve in the ever-changing world of digital assets.

Facebook X (Twitter) Instagram Pinterest YouTube
Don't Miss

24/7 Takeover: How Cryptocurrency’s $130 Billion TradFi Surge Is Absorbing Global Commodity Trading

March 7, 2026

Former Michigan State football coach Sherone Moore enters plea deal

March 7, 2026

Clinton reflects on friendship with Pastor Jesse Jackson

March 6, 2026
Newsletter

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

© 2026 Cryptosphere Update. All Rights Reserved.
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer

Type above and press Enter to search. Press Esc to cancel.