President Donald Trump and Elon Musk attend a press conference in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025. (Reuters File)
- Elon Musk slammed Trump-backed tax bill as “insane,” threatening to unseat lawmakers who supported it in next primaries.
- Musk called for a new political party, dubbing current system the “PORKY PIG PARTY,” criticizing massive government spending.
- Rift with Trump over spending bill fueled Tesla stock volatility, erasing $150 billion in market value before recent recovery.
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WASHINGTON – Billionaire Elon Musk on Monday renewed his criticism of President Donald Trump’s sweeping tax-cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending.
After weeks of relative silence following a feud with Trump over the legislation, Musk rejoined the debate on Saturday as the Senate took up the package, calling it “utterly insane and destructive” in a post on social media platform X.
On Monday, he ramped up his criticism, saying lawmakers who had campaigned on cutting spending but backed the bill “should hang their heads in shame!”
“And they will lose their primary next year if it is the last thing I do on this Earth,” Musk said.
Musk Calls for a New Political party
The Tesla and SpaceX CEO called again for a new political party, saying the bill’s massive spending indicated “that we live in a one-party country – the PORKY PIG PARTY!!”
“Time for a new political party that actually cares about the people,” he wrote.
Musk’s criticism of the bill has caused a rift in his relationship with Trump, marking a dramatic shift after the tech billionaire spent nearly $300 million on Trump’s re-election campaign and led the administration’s controversial Department of Government Efficiency (DOGE), a federal cost-cutting initiative.
Musk, the world’s richest man, has argued that the legislation would greatly increase the national debt and erase the savings he says he has achieved through DOGE.
It remains unclear how much sway Musk has over Congress or what effect his opinions might have on the bill’s passage. But Republicans have expressed concern that his on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
The rift has also led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately $150 billion of its market value, though it has since recovered.
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(Reporting by Nandita Bose in Washington and Kritika Lamba in Bengaluru, Editing by Colleen Jenkins and Rosalba O’Brien)
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