Elon Musk calls for Trump's bill to be scrapped

According to RIA Novosti, American billionaire Elon Musk, a former advisor to the US government, wrote on the social network X against the application of President Donald Trump's large-scale initiative to reduce federal spending. Elon Musk called it a threat to the US economy and called for the bill to be "destroyed".

"Need to develop a new bill that does not increase the deficit and debt ceiling by $5 trillion. Call your senators, call your congressmen. Bringing America to the brink of bankruptcy is unacceptable! Destroy that bill," Elon Musk wrote on X on June 4.

The billionaire stressed that he considered it unthinkable to bring the country to "financial collapse".

Musk had previously criticized President Trump's so-called "big, beautiful bill" approved by the House of Representatives, saying the document would level the results of his own work in the public sector and lead to an increase in the US budget deficit.

On June 3, on the social network platform X, billionaire Elon Musk - CEO of Tesla and SpaceX wrote: "I'm sorry, but I can't take it anymore. This Congressional spending bill full of special interests is an abomination. Shame on those who voted for it. You know it's wrong."

The bill includes an extension of tax cuts from 2017, increased defense spending and border security. The Congressional Budget Office (CBO) warned the bill would further increase the deficit.3,800 billion USD, pushing public debt up more36,000 billion USD.

The Senate, where Republicans control, is expected to edit the House version before bringing it to a vote, with the goal of completing it by July 4.