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Musk pledges to support primary challenges to Republicans who back Trump megabill

  • On Monday, during Senate debate on Trump's 'Big, Beautiful Bill,' Musk criticized the legislation, calling it 'debt slavery' for increasing the debt by $5 trillion.
  • Weeks of Musk's public criticism over debt and green energy cuts led to his attack on Trump's bill, including proposals for a new party and concerns over $5 trillion in increased debt.
  • Musk's posts cite JPMorgan estimates of $1.2 billion annual EV credit loss and call the bill 'debt slavery,' criticizing its $5 trillion debt increase and lawmakers' support.
  • Tesla shares dropped nearly 5% premarket Tuesday, signaling market fallout and potential challenges for vulnerable Republican lawmakers backed by Musk.
  • Musk's pledge to create the 'America Party' faces steep legal and financial hurdles, including signature requirements and costs estimated in hundreds of millions of dollars, tempering his timeline.
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Business Insider (Germany) broke the news in on Monday, June 30, 2025.
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