US Senate passes Trump’s ‘Big Beautiful Bill’ for tax cuts, causing rift with Musk
In a closely contested vote, the Republican-controlled US Senate has passed President Donald Trump’s “One Big Beautiful Bill”, a comprehensive tax cut package that has been touted as a major economic stimulus for the country. The bill, which was passed with a 51-50 margin, required the tie-breaking vote of Vice President JD Vance, who cast the deciding ballot after a grueling 24-hour debate.
The passage of the bill marks a significant victory for President Trump, who has made tax cuts a cornerstone of his economic policy. However, the bill’s passage has also caused a rift between Trump and one of his most prominent allies, Elon Musk, the CEO of SpaceX and Tesla.
Musk, a vocal supporter of Trump’s business-friendly policies, had expressed reservations about the bill, citing concerns that it would disproportionately benefit the wealthy and large corporations. In a series of tweets, Musk criticized the bill’s lack of transparency and its potential impact on the US budget deficit.
“Tax cuts are not always good,” Musk tweeted. “If I pay 0% tax, you’ll pay more. And when the gov’t runs out of money, they’ll raise taxes. Believe me, it’s not fair.”
Musk’s criticisms of the bill were seen as a surprise, given his long-standing support for Trump and his enthusiasm for the president’s economic agenda. However, it is clear that Musk is not alone in his concerns. Many economists and policymakers have warned that the bill’s tax cuts could exacerbate income inequality and increase the national debt.
Despite these concerns, the bill’s passage is seen as a significant achievement for Trump, who has made tax cuts a central part of his economic policy. The bill, which is expected to be sent to the House of Representatives for consideration, would reduce the corporate tax rate from 35% to 21% and cut individual tax rates across the board.
The bill’s proponents argue that the tax cuts will boost economic growth, create jobs, and increase wages for American workers. However, critics argue that the bill’s benefits will largely accrue to the wealthy and large corporations, while doing little to benefit working-class Americans.
The bill’s passage has also sparked concerns about its impact on the US budget deficit, which is already at historic levels. The Congressional Budget Office estimates that the bill would add over $1 trillion to the deficit over the next decade, a figure that is likely to increase as the cost of the bill’s tax cuts grows.
Despite these concerns, Trump and his allies are celebrating the bill’s passage as a major victory. In a statement, Trump hailed the bill as a “big beautiful bill” that will “rocket” the US economy to new heights.
“This is a tremendous victory for the American people,” Trump said. “We’re going to make America great again, and this bill is just the beginning.”
The bill’s passage is likely to set the stage for a major showdown between Trump and Democratic leaders in the House of Representatives, who are expected to oppose the bill in its current form. However, with the bill’s passage, Trump has secured a significant victory and a major boost to his economic agenda.
