• Elon Musk calls Trump's tax and spending bill "utterly insane and destructive."
• The legislation is criticized for favoring outdated industries at the expense of future sectors.
• Musk warns that the bill could lead to "political suicide" for the Republican Party.

Billionaire Elon Musk has publicly criticized President Donald Trump's "Big Beautiful Bill," calling it "utterly insane and destructive." Musk's opposition comes just ahead of a critical Senate vote to advance the legislation, which he argues will "destroy millions of jobs in America and cause immense strategic harm to our country," according to Reuters and Newsweek.

Musk's criticisms were echoed in multiple posts on social media platform X, where he argued that the bill favors "industries of the past" and threatens the potential of emerging sectors. He stated, "It gives handouts to industries of the past while severely damaging industries of the future," highlighting concerns over the legislative framework, as reported by TRT Global and Business Insider.

As Senate Republicans worked late into the weekend to secure a vote before Trump's July 4 deadline, Musk's statements were seen as particularly damaging to the party’s image. He declared the draft bill "political suicide for the Republican Party," a sentiment that has resonated with various voter groups, as noted by CBS News and India Times.

Musk's remarks also opened up a renewed conflict with Trump, who had previously regarded Musk as a strong ally. This shift in tone comes following Musk's tenure leading the Department of Government Efficiency, where he had focused on government spending cuts. After Musk attacked the bill, Trump expressed disappointment but later characterized Musk as a "wonderful guy," indicating the complex relationship between them, according to HuffPost and Business Insider.

This contentious debate places Musk in an unusual position, as he has invested heavily in political campaigns while criticizing legislative measures that could impact his business interests, particularly in clean energy. The outcome of this legislative battle remains to be seen, but Musk's bold statements highlight significant rifts within the Republican Party and the broader political landscape, as reported by India Times and CBS News.