Bessent Gives Blunt Response to Elon Musk Attacks on Trump Bill
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Shane Croucher is a Breaking News Editor based in London, UK. He has previously overseen the My Turn, Fact Check and News teams, and was a Senior Reporter before that, mostly covering U.S. news and politics. Shane joined Newsweek in February 2018 from IBT UK where he held various editorial roles covering different beats, including general news, politics, economics, business, and property. He is a graduate of the University of Lincoln, England. Languages: English. You can reach Shane by emailing s.croucher@newsweek.com
Shane Croucher
Breaking News Editor
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Treasury Secretary gave a blunt reply when asked to respond to Elon Musk‘s criticism of the One, Big, Beautiful Bill.
“I admire Elon’s leadership on rockets. I will take care of the finances,” Bessent told Fox & Friends on Tuesday morning.
Musk has attacked the “porky” bill—the tax-cutting centerpiece of President Donald Trump’s domestic agenda—saying the trillions of dollars of additional federal debt push the U.S. toward bankruptcy.
He said he would form a new America Party that would pursue a balanced federal budget, and threatened to intervene in the primaries of Congressional Republicans who support spending cuts, but voted for the bill, to oust them from office.
Bessent and Musk, who until May spearheaded the Department of Government Efficiency (DOGE), clashed in the White House.
Musk, the billionaire CEO of Tesla and SpaceX, was a close ally of Trump until the two had a dramatic and public falling out over the bill.
This is a developing article. Updates to follow.
U.S. Treasury Secretary Scott Bessent speaks to reporters following a Senate Republican luncheon, in the U.S. Capitol on June 27, 2025 in Washington, DC. Republican leaders are pushing to get what Trump calls his One… U.S. Treasury Secretary Scott Bessent speaks to reporters following a Senate Republican luncheon, in the U.S. Capitol on June 27, 2025 in Washington, DC. Republican leaders are pushing to get what Trump calls his One Big Beautiful Bill Act through Congress and to his desk before the July 4 Independence Day holiday.
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