{"id":971,"date":"2025-06-07T06:59:41","date_gmt":"2025-06-07T06:59:41","guid":{"rendered":"https:\/\/newsraise.com\/?p=971"},"modified":"2025-06-07T07:09:02","modified_gmt":"2025-06-07T07:09:02","slug":"donald-trump-elon-musk-drama-goes-public-friends-turn-foes-due-to-one-big-beautiful-bill","status":"publish","type":"post","link":"https:\/\/newsraise.com\/index.php\/2025\/06\/07\/donald-trump-elon-musk-drama-goes-public-friends-turn-foes-due-to-one-big-beautiful-bill\/","title":{"rendered":"Donald Trump \u2013 Elon Musk Drama Goes Public; Friends turn Foes due to \u2018One Big Beautiful Bill\u2019"},"content":{"rendered":"

Elon Musk, the Tesla-owner and business tycoon has come under media spotlight for his alleged public fallout with the US President Donald Trump<\/a>. The reason for this public spat is the \u2018One Big Beautiful Bill\u2019 \u2013also termed as the OBBA Act, is essentially a proposed legislative act by the Republican government which perfectly encapsulates Trump’s policy agenda and campaign promises for US-based entrepreneurs and small-business owners, while increasing funds into border security and expanding defence spending.<\/p>\n

The proposed bill has been heavily criticized by billionaire Elon Musk, who has had a monumental fallout with the US President<\/a>., citing the expression ‘Kill the Bill’ to revolt against Trump’s ludicrous ideology. His One Big Beautiful Bill, recently passed and approved by the House of Representatives through a whisker margin contains a provision that could change global remittance flows, and India as the world’s leading recipient of remittances could be impacted the most.<\/p>\n

This bill includes a proposed 3.5 per cent tax on all outbound remittance transfers, which was originally fixed at 5 per cent, but was later revised under pressure. This clause covers funds transferred from the United States to recipients abroad by foreign workers, including legal residents – green card holders and temporary visa workers like H-1B employees.<\/p>\n

However, this particular clause has been heavily criticized by billionaire and ostentatious business baron, Elon Musk, who owns Tesla, X, SpaceX and the previous head of DOGE (Department of Government Efficiency) in Trump\u2019s Republican cabinet. “I think a bill can be big or it could be beautiful. But I don’t know if it could be both<\/em>,” the Tesla and SpaceX chief said recently.<\/p>\n

Bill\u2019s Impact on India<\/strong><\/p>\n

According to the World Bank<\/a> and Reserve Bank of India (RBI), India received approximately US $129 billion in remittances in 2024 alone. The figure is almost as much as the annual budgets of Pakistan (US $67 billion) and Bangladesh (US $68 billion) combined. The largest portion of this sum originates from Indian workers in the United States<\/a>. The proposed new tax could drain billions from the pool of funds that support millions of households in India.<\/p>\n