Musk Slams Trump Megabill, Warns of Job Losses

Former DOGE head and tech mogul Elon Musk took to X on his 54th birthday Saturday to bash the latest Senate draft of President Donald Trump's "big, beautiful bill," which would "destroy millions of jobs" and raise taxes on all wind and solar projects that have not yet started construction.

"The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive," Musk wrote in the post.

The post comes after Musk had a public falling out with Trump earlier this month over the administration's "big, beautiful" spending bill.

The billionaire criticized the first version of the bill June 3, calling it a "massive, outrageous, pork-filled Congressional spending bill [that] is a disgusting abomination."

"Shame on those who voted for it: you know you did wrong," Musk wrote in the June 3 post. "You know it."

The new version, which Senate Republicans hope to deliver to the president by July 4, was debuted Friday night by Senate Budget Committee Chair Lindsey Graham, R-S.C.

Among the changes in the bill are adjustments to the Medicaid provider tax rate, cost-sharing for food benefits, caps on state and local tax (SALT) deductions and cuts to wind and solar incentives.

The new spending guidelines limit credits to sites that start production before 2028 and introduce new taxes on certain projects that commence thereafter.

In his post about the environmental cuts, Musk said the bill would give "handouts" to industries of the past, while severely damaging industries of the future.

The American Clean Power Association (ACP) issued a similar statement Saturday, noting the new taxes would freeze energy investments, reduce domestic energy production and drive up household energy bills.

"With no warning, the Senate has proposed new language that would increase taxes on domestic energy production," ACP CEO Jason Grumet wrote in a statement. "In what can only be described as ‘midnight dumping,’ the Senate has proposed a punitive tax hike targeting the fastest-growing sectors of our energy industry."

Grumet added the new taxes would "strand hundreds of billions of dollars in current investments, threaten energy security, undermine growth in domestic manufacturing and land hardest on rural communities who would have been the greatest beneficiaries of clean energy investment."

"We understand the Senate’s desire to meet the President’s July 4th deadline, but the stakes here are very high," he wrote. "We urge Senate leadership to strike these last-minute tax increases and to take the time to responsibly analyze the impacts of this new tax regime on American businesses and communities."

Sen. Elizabeth Warren, D-Mass., on Saturday afternoon said she was helping to hold the Senate "all night" to "FORCE" a full reading of the nearly 1,000-page bill.

"Democrats need to use every second to fight back against the Big Beautiful Bill," Warren wrote on X.