On July 4 local time, Elon Musk, CEO of Tesla, made his first response to the "Big and Beautiful" bill passed by the U.S. Congress. He supported Republican Senator Rand Paul's criticism of the bill on the social platform X, stating that it would trigger a budget deficit and undermine long-term fiscal sustainability.

Musk retweeted and supported the post from Republican Senator Rand Paul of Kentucky. Paul wrote: "This bill will trigger a fiscal deficit. Short-term political activities take precedence over long-term sustainability, which is the style of Washington." Paul was also one of three Republican senators who voted against the bill in the Senate.

Musk also posted a vote on the social platform X about establishing a new party called "The American Party."

"Independence Day is the perfect time to ask: Do you want to get rid of the Democratic-Republican (some even call it 'the same party') system? Should we establish a 'American Party'?"

So far, approximately 930,000 accounts have participated in the vote, with 64.3% voting "Yes" and 35.7% voting "No."

Musk had previously called the bill "a debt slavery bill" on the social platform on July 1 and publicly questioned Trump's financial policy direction.

According to the assessment by the Congressional Budget Office (CBO), the bill would add approximately $3.4 trillion to the U.S. national debt over the next decade, with the current total federal debt reaching $36.2 trillion. The White House, however, refuted that the CBO has "partisan bias" and denied the accuracy of the related estimates.

The bill covers trillions of dollars in tax cuts, significantly increases immigration enforcement spending, and cuts federal funding for Medicare, solar energy, wind energy, and electric vehicle programs. These policy changes directly impact Musk's industries that heavily rely on clean energy subsidies.

Trump responded through social media in early June: "I revoked his mandate forcing everyone to buy electric vehicles no one wants. He knew I would do this, and then he went completely crazy."

As the dispute between the two escalated, Tesla's stock plummeted by 15.2 billion dollars on June 5, with its market value dropping by as much as 152 billion dollars, and the company's total valuation once fell below the 1 trillion dollar mark. Although the stock price rebounded somewhat afterward, it has not yet recovered to the level before the incident.

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