• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Economynational debt

Elon Musk says he’s ‘disappointed’ in Trump’s new spending bill because it ‘undermines the work that the DOGE team is doing’

Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
Down Arrow Button Icon
Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
Down Arrow Button Icon
May 28, 2025, 7:00 AM ET
President Donald J. Trump greets Tesla CEO Elon Musk
Musk and Trump shared a laugh together in Qatar earlier this month—though the Tesla CEO has now criticized Trump's spending bill.Win McNamee—Getty Images
  • Elon Musk has publicly criticized Donald Trump’s new spending bill, expressing disappointment that it would add $3.8 trillion to the federal deficit and undermine his efforts with the Department of Government Efficiency (DOGE) to reduce government spending. Musk, who had shifted focus back to Tesla after tensions with the administration, also lamented that DOGE had become a scapegoat for broader dissatisfaction, even as backlash against his cost-cutting measures has led to vandalism of Tesla property.

The cracks are well and truly beginning to show in the Elon Musk–Donald Trump partnership, after the Tesla CEO said he was “disappointed” by the president’s spending bill—the showpiece of Trump 2.0.

Recommended Video

When Musk was brought in from campaign donor to White House special employee, he was tasked with cutting $2 trillion (since drastically reduced to $150 billion) from the federal deficit and streamlining government departments.

But now, four months after Trump returned to the Oval Office, Musk is already concerned his work with the Department of Government Efficiency (DOGE) is being undone, courtesy of the “largest tax cut in history” being pushed through Congress by the Trump team.

Economists have flagged major concerns with Trump’s “Big, Beautiful Bill,” which extends his temporary 2017 cuts to lower individual income and estate taxes; grants a tax break for tips, overtime, and interest on auto loans, domestic research, and development expense incentives; and offers “Trump kids” savings accounts, plus a $46.5 billion package to restart immigration action.

Combined, the White House says, these policies will boost GDP by 2.6% to 3.2% in the long term and increase take-home pay for median-income households by $5,000 a year.

However, a recent report from the Congressional Budget Office (CBO) found the legislation would add $3.8 trillion to the deficit.

This is precisely where Musk has fallen out of love with Trump’s economic agenda, as it adds to the deficits of a nation already burdened with a $36.2 trillion debt bill.

“Disappointed”

“I was disappointed to see the massive spending bill, frankly, which increases the budget deficit,” Musk told CBS in a clip of an interview scheduled to be released June 1, adding it “undermines the work the DOGE team is doing.”

Indeed DOGE’s cuts—which often proved unpopular and led to Musk’s private interests being targeted by critics—were expected by the Tesla CEO to ax around $1 trillion in spending.

If Trump’s bill, in its current form, does get approved by Congress, then it is likely to rapidly wipe out the cost efficiencies that cost Musk and Tesla dearly.

“I think a bill can be big or it can be beautiful,” Musk added. “But I don’t know if it can be both—personal opinion.”

The criticism comes as Musk has continued to step away from games of politics on the Hill and instead focus on the endeavors that made him the richest person on the planet. Already Musk had said he would be focused more on Tesla than his role in the Trump administration, a shift in tone following media reports that Trump had blocked the billionaire entrepreneur from high-profile national security meetings.

And while Musk is not in opposition to Trump more widely, this isn’t the first time the man worth $390 billion has criticized the strategy of the Oval Office.

Trump’s tariff agenda, for example, did not land well with Musk and began a back-and-forth between the South African–born billionaire and Trump advisor Peter Navarro.

The White House did not respond to Fortune‘s request for comment.

DOGE has become a “whipping boy”

Musk also lamented the reaction to DOGE’s work, saying the department has become the scapegoat for any gripes with the new administration.

“DOGE is just becoming the whipping boy for everything,” he told the Washington Post in an interview released this morning. “So, like, something bad would happen anywhere, and we would get blamed for it even if we had nothing to do with it.”

One of the most explicit criticisms of DOGE was how it treated USAID, with fellow billionaires like Bill Gates saying cuts to foreign spending could result in the deaths of millions of children—a statement Musk denies but has promised to fix if it is confirmed to be true.

Such stories haven’t made Musk a popular figure with some voters, who expressed their rage by targeting the entrepreneur’s businesses. Tesla cars, showrooms, and charging points have been damaged beyond repair not only in the U.S. but also across Europe. 

A couple of examples include Molotov cocktails being thrown at vehicles in Las Vegas, gunshots fired at a showroom in Portland, Ore., and charging points set on fire in Boston.

 “People were burning Teslas. Why would you do that? That’s really uncool,” Musk told the WP.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
Eleanor Pringle
By Eleanor PringleSenior Reporter, Economics and Markets
LinkedIn icon

Eleanor Pringle is an award-winning senior reporter at Fortune covering news, the economy, and personal finance. Eleanor previously worked as a business correspondent and news editor in regional news in the U.K. She completed her journalism training with the Press Association after earning a degree from the University of East Anglia.

See full bioRight Arrow Button Icon

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Economy

hormuz
CommentaryOil
Iran’s Hormuz toll booth points toward an L-shaped price plateau, not the V-shaped recovery traders want
By Siddharth MisraMarch 28, 2026
2 hours ago
donald trump
EconomyDonald Trump
Trump moves to shield farmers rattled by tariffs and war. But the U.S. is already doling out $10B to near-millionaire and even billionaire farmers
By Jake AngeloMarch 27, 2026
16 hours ago
InnovationDrones
The Army and Amazon are creating an online storefront to buy drones as the technology transforms the battlefield
By Jason MaMarch 27, 2026
17 hours ago
Real Estateaffordable housing
Affordable housing is stuck in limbo thanks to a ‘Made in USA’ law that nobody can figure out how to follow
By Charlotte Kramon and The Associated PressMarch 27, 2026
17 hours ago
U.S. President Donald Trump reacts during a Cabinet meeting in the Cabinet Room of the White House on March 26, 2026 in Washington, DC.
EnergyIran
The big stock market correction that Trump can’t talk his way out of is official
By Eva RoytburgMarch 27, 2026
20 hours ago
Worker welding on a ship
SuccessCareers
This AI-proof career faces a 250,000-worker shortage—now the Trump administration is trying to revive the job millennials abandoned
By Preston ForeMarch 27, 2026
20 hours ago

Most Popular

Success
Meetings are not work, says Southwest Airlines CEO—and he’s taking action by blocking his calendar every afternoon from Wednesday to Friday 
By Fortune EditorsMarch 27, 2026
1 day ago
AI
Exclusive: Anthropic acknowledges testing new AI model representing ‘step change’ in capabilities, after accidental data leak reveals its existence
By Fortune EditorsMarch 26, 2026
1 day ago
Personal Finance
Current price of gold as of March 27, 2026
By Fortune EditorsMarch 27, 2026
22 hours ago
Personal Finance
Current price of silver as of Friday, March 27, 2026
By Fortune EditorsMarch 27, 2026
22 hours ago
AI
Exclusive: Anthropic left details of an unreleased model, invite-only CEO retreat, sitting in an unsecured data trove in a significant security lapse
By Fortune EditorsMarch 26, 2026
1 day ago
Commentary
The Treasury just declared the U.S. insolvent. The media missed it
By Fortune EditorsMarch 23, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.