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United States President Donald Trump has expressed his determination to renegotiate parts of his “big, beautiful” tax bill. While some elements meet his expectations, others leave him dissatisfied.
This statement follows the critique by billionaire Elon Musk, who pointed out that the bill undermines efforts to lower the US budget deficit.
Previously, Trump and his Republican allies had lauded the tax and spending measures as a “big, beautiful bill”.
What is Trump’s tax bill?
On May 22, the US House of Representatives approved the extensive tax and spending bill, which includes much of Trump’s policy agenda, albeit increasing the national debt considerably.
The bill, which was passed by a single vote, will add about US$3.8 trillion ($5.9 trillion) to the federal government’s US$36.2 trillion ($56.2 trillion) in debt over the next decade, according to the nonpartisan Congressional Budget Office.
The US Senate is now considering the measure.
What did Elon Musk say?
In an interview with CBS, Musk said he was “disappointed to see the massive spending bill” because it increases the budget deficit and undermines the Department of Government Efficiency.
“I think a bill can be big or it can be beautiful. But I don’t know if it can be both,” Musk said in the interview.
A White House official, familiar with the strategy, mentioned plans to submit a small package to Congress as soon as the following week. This package would aim to formalize reductions suggested by Musk’s team for federal government spending.
How has Trump responded?
Trump later expressed dissatisfaction with some provisions of the bill.
“We will be negotiating that bill, and I’m not happy about certain aspects of it, but I’m thrilled by other aspects of it,” Trump told reporters, without directly addressing Musk’s concerns.
He also emphasised the need to secure sufficient support for the bill’s passage in the Senate, saying: “We can’t be cutting, you know, we need to get a lot of support.”
