Musk demands do-over on Trump budget bill

Elon Musk says Republicans need to start over on the Trump budget bill. Why it matters: A no-new-deficits bill would require far smaller tax cuts, or far deeper spending cuts. Both are non-starters for Republicans, who are watching in dismay as Musk turns his ire on them. "A new spending bill should be drafted that doesn't massively grow the deficit and increase the debt ceiling by 5 TRILLION DOLLARS," Musk posted on X. The House-passed bill would include $2.4 trillion in deficit spending over the next 10 years, the Congressional Budget Office said on Wednesday.CBO also estimated the Trump tariffs would bring in $2.8 trillion in revenue over the next 10 years.Zoom in: House Speaker Mike Johnson said Wednesday that Musk didn't "answer" a phone call on Tuesday but hopes they can speak today. Musk turned on the "one big, beautiful bill" as a "disgusting abomination," but privately tried to block cuts to electric vehicle credits, Axios reported on Tuesday. "We don't have time for a brand new bill," Johnson told Fox News on Wednesday. "We worked on the bill for almost 14 months. ... We have a great product to deliver here," he said. When asked about Musk's contention that the bill will increase the deficit, Senate Majority Leader John Thune told reporters Wednesday evening, "we believe the opposite."He rejected Musk's advice to kill the bill and said they are a long way down the track and were moving forward with it, per a pool report.Go deeper: Musk nukes Johnson and ThuneEditor's note: This story has been updated with remarks by House Speaker Mike Johnson and Senate Majority Leader John Thune.Rebecca Falconer contributed reporting.

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