Elon Musk Warns Trump-Backed Bill's Energy Policy Will 'Destroy Millions of Jobs'

Tech billionaire Elon Musk has vociferously criticized a comprehensive legislative package championed by former President Donald Trump and the Republican Party, labeling its energy provisions a "gigantic flaming disaster." Musk, the CEO of Tesla and SpaceX, asserts that the proposed "One Big Beautiful Bill" will severely damage the clean energy sector and lead to significant job losses across the United States. His public statements on X (formerly Twitter) highlight a deepening rift over the future of American energy policy.

Musk's primary concern centers on the bill's impact on emerging industries. He stated on social media that the legislation is "utterly insane and destructive," arguing it "gives handouts to industries of the past while severely damaging industries of the future." This criticism underscores his view that the bill prioritizes traditional fossil fuel sectors over renewable energy advancements.

The proposed bill includes provisions that would significantly reduce or eliminate tax credits for solar, battery, geothermal, wind, and nuclear energy projects. Furthermore, it introduces new taxes on existing wind and solar farms that utilize foreign materials, while simultaneously offering new inducements for fossil fuels, such as classifying coal as a critical mineral for government manufacturing credits. Critics argue these changes would increase energy prices and hinder the growth of renewable power.

Beyond energy, Musk has also slammed the bill as "political suicide for the Republican Party," citing polls indicating its unpopularity. The legislation, which has advanced in the Senate, also includes broad tax cuts, increased spending on defense and immigration enforcement, and substantial cuts to social safety net programs like Medicaid, prompting concerns about its estimated $3.3 trillion addition to the national debt.

The "One Big Beautiful Bill" is a key legislative priority for President Trump, who has pushed for its swift passage by a July 4th deadline. Despite unified Democratic opposition and internal divisions within the GOP, Senate Republicans are working to secure enough votes for its approval. The bill's passage would require another vote in the House of Representatives.

Musk's strong opposition marks a renewed public disagreement with the former president, despite his past involvement with the Trump administration. As a prominent figure in the electric vehicle and clean energy industries, his critiques carry weight, emphasizing the potential economic and strategic harm he believes the bill poses to the nation's future.