Zinger Key Points
- Elon Musk calls the bill "a disgusting abomination" and rallies against it on social media.
- Nassim Taleb urges others to support Musk's fight against the spending bill.
- Get access to the leaderboards pointing to tomorrow’s biggest stock movers.
Tesla, Inc. TSLA CEO and former head of DOGE Elon Musk has launched a fierce campaign against President Donald Trump's "Big, Beautiful Bill." "Black Swan" author Nassim Taleb has come out in support of Musk's rally against the bill on social media.
What To Know: Taleb urged others to support Musk's stance against the sweeping tax and spending bill in a Wednesday evening post on X.
"Whatever you thin[k] of @elonmusk, you must support him in this. The Trump budget is a lunacy; it will bankrupt America," Taleb wrote.
Musk, who just last week left his role at DOGE to return to his focus on his companies, has called the bill “a disgusting abomination” in a rare disagreement with the Trump administration.
The spending bill and tax cuts would increase government spending which Musk worked with DOGE to reduce, as he pointed out in a separate reply on X.
"It more than defeats all the cost savings achieved by the @DOGE team at great personal cost and risk," Musk wrote.
The Tesla CEO also warned that the bill would "massively inflate the already staggering deficit" and urged Congress to "kill the bill."
What's Next: The Senate is currently holding closed-door meetings and committee markups to address internal disagreements, particularly over Medicaid cuts and deficit concerns. Some Republican senators are demanding changes before they can support the bill.
Congressional Budget Office estimates indicate that the "Big, Beautiful Bill" could add over $5 trillion to the national debt by 2034. However, the White House says it is sticking to its guns despite criticism of the bill.
Congressional leaders are aiming for a Senate vote on President Trump's " Big, Beautiful Bill" before the July 4th holiday.
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