In a twist that's capturing attention from digital buzz to the corridors of power, billionaire Elon Musk and hardline conservative Republicans are challenging Trump's sweeping tax-cut and spending bill. The measure extends Trump's 2017 tax cuts while boosting military and border security funds, setting off fierce debates.
The nonpartisan Congressional Budget Office estimates the bill could add roughly $2.4 trillion to the U.S. national debt — a staggering figure that has critics warning of an economic slippery slope 🚀. The Committee for a Responsible Federal Budget has even warned that the cost could surge to $3 trillion over a decade, or climb to $5 trillion if temporary tax cuts become permanent.
Musk, known for his bold statements and visionary ideas, took to his social media platform to declare, "A new spending bill should be drafted that doesn't massively grow the deficit. America is in the fast lane to debt slavery." His pointed remarks align him with Senate Republican deficit hawks who argue that the House-passed bill doesn’t go far enough in cutting spending.
Senator Ron Johnson of Wisconsin and others have criticized the legislation for not addressing the rising trend in deficits and debt. Yet, Senate Majority Leader John Thune reassured that the wheels are in motion, promising that Congress will push the measure forward despite internal dissent.
The 1,100-page bill also includes provisions that cancel green-energy incentives and tighten eligibility for health and food programs, intensifying criticism from those who say it disproportionately benefits the wealthy while cutting support for working Americans.
Whether you're a student, a budding entrepreneur, or simply curious about the latest in U.S. politics, this political showdown is a must-watch! 🎬 Stay tuned as this high-stakes debate unfolds and reshapes fiscal policy debates in Washington.
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Musk, hardline U.S. Republicans attack Trump tax-cut and spending bill
cgtn.com
