Elon Musk once again rails against Donald Trump's tax law and threatens to found a new party

The US President officially calls his tax proposal the "Big Beautiful Bill" (BBB). It will "secure the borders, power our economy, and bring back the American dream," Trump said. At its core, it's an extension of the tax cuts from Trump's first term (2017 to 2021), which would otherwise expire at the end of the year. The estimated loss to the tax authorities: $4.5 trillion (just over €3.8 trillion). Many of the tax breaks primarily benefit wealthy individuals and large corporations.

Criticism within our own ranks is not tolerated

In addition to higher debt, cuts are planned, especially in Medicaid, the health insurance program for the elderly and low-income people. There will also be cuts in food assistance, such as school lunches. According to the independent Congressional Budget Office, the latest bill is expected to result in almost 12 million people losing their insurance coverage within 10 years. Trump denies such effects for US citizens. Instead, he says, irregular immigrants will be affected.