Big Beautiful Bill Has Been Passed: Elon Musk Warns About Consequences

The Big Beautiful Bill was passed under the leadership of President Donald Trump, with significant political drama, currently formed with a narrow vote of 215-214 on May 22, 2025, and tightened its position with a 51-49 victory in the Senate on June 29 to become the official debate, which has provoked fierce reactions from business leaders - topped by Tesla CEO, Elon Musk. The bill proposes a 10% tax on all goods imported into the United States. The Big Beautiful bill was passed when positioned as a bold move to strengthen the domestic industry; Musk believes it could lead to widespread job losses, higher customer prices, and a significant blow to the global competitiveness of the United States. Big Beautiful Bill Has Been Passed, What Does It Really Do? At its core, the Big Beautiful Bill has been passed, aimed at reducing the United States' dependence on foreign goods by taxing all imports equally. The logic behind it is very simple: encourage Americans to buy and produce locally. But for many businesses, especially those that rely on the global supply chain, things are not that simple. A fixed import tax of 10% across all sectors could lead to higher production costs, supply disruptions, and lower profit margins - costs that consumers may have to bear when the Big Beautiful Bill is passed. Why is Elon Musk angry? Elon Musk has taken a clear stance and voiced strongly his belief that American innovation and entrepreneurial spirit will be at risk.

"This will destroy millions of jobs. This is a direct blow to small and medium-sized companies, especially in advanced fields such as electric vehicles, space technology, and AI." Tesla, SpaceX, and other technology companies rely on globally sourced components and advanced technologies - often unavailable or costly - in the United States. Tariffs can put these companies at a disadvantage and hinder the product development process. The Impact of Ripple on Startups and the Cryptocurrency Ecosystem in the United States The Big Beautiful Bill has been passed and not only affects large corporations but could also create significant barriers for startups and the cryptocurrency sector. Startups often operate on a tight budget and have to rely on inexpensive imports for hardware, services, and cross-border collaborations. Common import taxes create barriers for these early-stage joint ventures, potentially leading to slow growth or relocation to more business-friendly areas. In the world of cryptocurrency, where it thrives due to decentralization and global participation, this policy could bring about change. Blockchain startups may begin to move operations overseas to avoid rising costs and regulatory complexities, undermining the United States' position as a leader in technology innovation. Is Cryptocurrency Still a Symbol of Economic Freedom? Musk has a strong and lasting voice in support of digital assets and cryptocurrencies, promoting them as tools for economic freedom and against centralized control. There are still questions about whether the United States remains a fertile ground for such innovations. The Big Beautiful bill has taken a more protectionist stance - in contrast to the decentralized and borderless philosophy that defines the cryptocurrency space. If not carefully considered, this move could lead to a loss of talent and investment in Web3, undermining the role of the United States in shaping the digital economy that will be affected by the Big Beautiful Act when it is passed. Final Thoughts: America is at a Crossroads The passage of the Big Beautiful Bill has been approved, subsequently showcasing a bold political move - but it may come at a high cost. Elon Musk's criticism has highlighted the real consequences of concealed economic policies, overlooking the complexities of the industry. Whether this bill will revive America's manufacturing sector or inadvertently push innovation abroad remains to be seen. But one thing is clear: the debate has only just begun and the future of economic freedom - especially in the digital age - is under threat.