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Treasury’s Bessent Blows Off Debt Talk From Musk Over ‘Big, Beautiful Bill’

Charlie Kirk Staff

07/02/2025

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Treasury’s Bessent Blows Off Debt Talk From Musk Over ‘Big, Beautiful Bill’

Treasury Secretary Scott Bessent on Tuesday downplayed tech entrepreneur Elon Musk’s debt-related criticisms of Republicans supporting President Donald Trump’s “One Big, Beautiful Bill.”

In an evening interview on Fox News, Bessent told host Laura Ingraham that the legislation marks the beginning of Washington’s efforts to get its financial house in order, responding to Musk’s warning that he may back primary challengers against GOP lawmakers who vote for the bill.

“As I said earlier this morning, I think if Elon sticks to rockets, I will stick to finance,” Bessent said, alluding to how Musk owns SpaceX. “And, you know, I am confident that this bill is going to pay down the debt and there were 50 senators who weren’t threatened by his words.”

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GOP leaders in Congress have been rushing to deliver the legislation to President Trump by his July 4 deadline. Key provisions include extending the 2017 tax cuts set to expire at year’s end; increasing funding for border security and the military; reducing regulatory barriers for American energy production; and raising the debt ceiling by trillions of dollars.

On Tuesday, the Senate passed the more than 800-page bill—designed to advance many of Trump’s spending and tax-cut priorities for his second term—by a narrow 51-50 vote. Vice President JD Vance cast the tie-breaking vote after three Republicans—Sens. Thom Tillis (R-NC), Rand Paul (R-KY), and Susan Collins (R-ME)—voted against the measure.

Critics raised alarms over proposed Medicaid cuts and projections that the bill would add trillions to the national debt. Supporters, however, argue that the legislation will stimulate economic growth and ultimately address the debt challenge over time.

Musk, whose alliance with President Donald Trump fell apart weeks ago after he started openly criticizing the “One Big, Beautiful Bill,” warned Monday that he would actively campaign to unseat GOP lawmakers who support the legislation, despite the party’s campaign promises to curb government spending.

“Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!” Musk said in a post on X. “And they will lose their primary next year if it is the last thing I do on this Earth.”

Such a move would represent a dramatic reversal for Musk, who last year invested over $250 million to support Trump and other Republicans in elections before leading the administration’s Department of Government Efficiency (DOGE) effort through late May, with a stated goal of eliminating waste, fraud, and abuse.

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Charlie Kirk is the Founder and President of Turning Point USA, a national student movement dedicated to empowering young people to promote the principles of free markets and limited government.

Charlie is also the host of “The Charlie Kirk Show” podcast, which regularly ranks among the top-10 news shows on Apple podcast news charts, and is the host of the nationally syndicated daily radio show on the Salem Radio Network live from 12 - 3 PM ET.
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