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President Donald Trump is pushing to pass a sweeping tax and spending bill by July 4, but the proposal is already sparking fierce internal GOP debate. The bill combines 2017 tax cut extensions with new Trump-era proposals, including deductions on American-made auto loans and changes to child tax credits. But not everyone is on board. Elon Musk has launched a high-profile feud with Trump over the bill, and key Republican senators are warning that the bill could add trillions to the national debt.
CHAPTERS:
0:00 Introduction
1:45 What’s in the bill?
3:41 Why does Elon Musk oppose it?
7:12 Impact
Reporting by
Emily Wilkins
Produced by
Charlotte Morabito
Edited by
Andrea Miller
Senior Director of Video
Lindsey Jacobson
Additional Footage
Getty Images
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2025/06/10
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