• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
PoliticsDonald Trump

Trump brings chaos back to Washington as he joins with Musk in attempt to kill bipartisan budget deal

By
Chris Megerian
Chris Megerian
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Chris Megerian
Chris Megerian
and
The Associated Press
The Associated Press
Down Arrow Button Icon
December 19, 2024, 5:33 AM ET
President-elect Donald Trump speaks during a news conference at Mar-a-Lago, on Dec. 16, 2024, in Palm Beach, Fla.
President-elect Donald Trump speaks during a news conference at Mar-a-Lago, on Dec. 16, 2024, in Palm Beach, Fla. Evan Vucci—AP

President-elect Donald Trump delivered a likely death blow to bipartisan congressional budget negotiations on Wednesday, rejecting the measure as full of giveaways to Democrats after billionaire ally Elon Musk whipped up outrage toward the bill and cheered on Republican lawmakers who announced their opposition.

Recommended Video

Trump’s joint statement with Vice President-elect JD Vance, which stopped the bill in its tracks, punctuated a daylong torrent of social media posts by Musk attacking the legislation for what he described as excessive spending.

“Stop the steal of your tax dollars!” Musk wrote on his social media platform X as he dangled primary challenges against anyone who voted for the budget deal, a threat Trump later echoed in a post of his own.

The episode showcased the growing political influence of Musk, whom Trump has selected alongside entrepreneur Vivek Ramaswamy to spearhead the Department of Government Efficiency, a nongovernmental task force formed to find ways to fire federal workers, cut programs and reduce regulations.

Rep. Andy Barr, a Republican from Kentucky, said his office was flooded with calls from constituents.

“My phone was ringing off the hook,” he said. “The people who elected us are listening to Elon Musk.”

In his statement with Vance, Trump said Republicans should restart negotiations over the legislation, arguing that “anything else is a betrayal of our country.” He also called for including an extension of the debt ceiling while President Joe Biden is in office.

“Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch,” they said. “If Democrats won’t cooperate on a debt ceiling increase now, what makes anyone think they would do it in June during our administration? Let’s have this debate over the debt ceiling now.”

Trump’s opposition to what was considered must-pass legislation reinjected a sense of chaos and political brinkmanship that was reminiscent of his first term in office. It was a dramatic turn of events for House Speaker Mike Johnson, who negotiated the bill and has been undermined by Trump as he faces reelection for his post in just a couple of weeks. Republicans have a slim majority, raising the possibility of a replay of leadership disputes that paralyzed the House a year ago.

Many lawmakers were in the middle of holiday and year-end celebrations with staff when Trump came out against the legislation.

“I’ve been here 14 years, OK? So nothing up here surprises me anymore,” said Rep. Steve Womack, a senior Republican appropriator from Arkansas. “We shouldn’t be in this mess.”

The Biden administration criticized the possibility of a shutdown.

“Republicans need to stop playing politics with this bipartisan agreement or they will hurt hardworking Americans and create instability across the country,” said White House press secretary Karine Jean-Pierre.

Grover Norquist, president of Americans for Tax Reform and a veteran of Washington’s budget battles, was concerned about the lack of a clear plan for resolving the dispute.

“There’s got to be a second part of the strategy,” he said.

Norquist has been enthusiastic about Musk’s ability to generate public attention for efforts to reduce the size of government. But he suggested that the owner of a space rocket company wasn’t the right person to spearhead a congressional spending debate.

“He doesn’t know politics like he knows physics,” he said.

But others were thrilled with Musk’s involvement.

“In five years in Congress, I’ve been awaiting a fundamental change in the dynamic,” posted Rep. Dan Bishop, a Republican from North Carolina. “It has arrived.”

Musk began criticizing the measure as soon as it was released Tuesday evening, and he continuously posted about it Wednesday.

“Any member of the House or Senate who votes for this outrageous spending bill deserves to be voted out in 2 years!” he wrote. He also called it “one of the worst bills ever written.”

Sometimes Musk amplified false claims, such as the idea that the legislation included $3 billion for a new football stadium in Washington. In reality, the legislation would transfer ownership of the land from the federal government to the city, paving the way for eventual development.

Musk appeared emboldened by the experience.

“The voice of the people was heard,” Musk wrote. “This was a good day for America.”

Democratic House leader Hakeem Jeffries said the fallout would be Republicans’ fault.

“You break the bipartisan agreement, you own the consequences that follow,” he wrote on X.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Chris Megerian
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

g
PoliticsElections
Democrats want to run on corruption. Their own stock trades keep getting in the way
By Matt Brown and The Associated PressMay 25, 2026
8 hours ago
c
PoliticsElections
Trump called Cornyn ‘very disloyal.’ Now a 5-term Texas Senator is fighting for his career
By Thomas Beaumont and The Associated PressMay 25, 2026
8 hours ago
Antonio Gracias, founder, chief executive officer and chief investment officer of Valor Equity Partners
InvestingSpaceX
Elon Musk’s best friend could make more than $100 billion from SpaceX’s IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
12 hours ago
Trump says ‘don’t listen to the losers’ after fellow Republicans warn he’s about to make a disastrous mistake with Iran ceasefire deal
PoliticsIran
Trump says ‘don’t listen to the losers’ after fellow Republicans warn he’s about to make a disastrous mistake with Iran ceasefire deal
By Darlene Superville, Matthew Daly and The Associated PressMay 24, 2026
1 day ago
The more generous U.S. ceasefire terms are, the more suspicious Iran becomes they’re a ruse for another attack, expert says
PoliticsIran
The more generous U.S. ceasefire terms are, the more suspicious Iran becomes they’re a ruse for another attack, expert says
By Jason MaMay 24, 2026
1 day ago
w
Personal FinanceWhite House
From Hobbes to the 14th amendment: the ancient and modern cases against Trump’s $1.8 billion fund
By Austin Sarat and The ConversationMay 24, 2026
1 day ago

Most Popular

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
Economy
The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
By Nick LichtenbergMay 25, 2026
16 hours ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
4 days ago
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
Travel & Leisure
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
By Catherina GioinoMay 25, 2026
13 hours ago
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
Investing
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
12 hours ago
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezMay 25, 2026
12 hours ago
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
Lifestyle
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
By Sasha RogelbergMay 24, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.