Elon Musk Criticizes the Senate's Passage of Trump's Bill

Elon Musk spoke out against the Senate's recent passage of the bill sponsored by Donald Trump on June 29, 2025. Musk used the platform Twitter to highlight the potential harmful impact of the bill on future industries and job creation in the United States. Musk Denounces the Impact of the Senate Bill on Jobs and Innovation The decision of the U.S. Senate to pass a bill strongly supported by Donald Trump has drawn criticism from Elon Musk, who views the bill as detrimental to job growth and technological innovation in the U.S. Musk stated that the law supports outdated industries, negatively impacting future-oriented sectors. "I think a bill can be big or it can be beautiful, but I don't know if it can be both," Musk commented, expressing his opposition to both its scale and its content. The consequences of the Senate bill include an expected increase in the federal deficit by an additional $3.8 trillion. Furthermore, the reduction of clean energy tax incentives poses challenges for leading companies in the industry such as Tesla, affecting investor sentiment and potentially hindering growth in the clean technology sector. Elon Musk's reaction includes public statements highlighting the strategic flaws of the bill. According to CBS News, Musk stated, "To be honest, I am disappointed to see this massive spending bill increase the budget deficit rather than just reduce it, and undermine the work that the DOGE team is doing." Economic Strategy Questioned Amid Concerns Over Federal Deficit Did you know? Critics are concerned that the increasing federal deficit of the bill could reflect historical precedents where previous economic policies led to a decrease in investor confidence in emerging technology sectors, potentially stalling innovation. The current market situation of Bitcoin, as of 09:50 UTC on June 29, 2025, shows a trading price of $107,992.38, with a market capitalization of $2.15 trillion. The trading volume in the last 24 hours has decreased by 25.52%. Despite the fluctuations, Bitcoin has recorded a 32.60% increase in the past 90 days, according to CoinMarketCap.

Studies indicate that financial decisions such as Senate bills can impact the financial landscape, particularly in clean technology innovation and management policies. Focusing on outdated industries may slow the pace of sustainable projects, affecting broader technological advancements and market momentum.