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The bill has the backing of President Donald Trump and would be the legislative linchpin of his second-term agenda if it passes Congress.

Musk left the administration abruptly last week after 129 days working to cut costs with his team, known as Doge.

The comments mark his first public disagreement with Trump since leaving government, after having previously called the plan "disappointing".

The South African-born tech billionaire's time in the Trump administration came to an end on 31 May, although Trump said that "he will, always, be with us, helping all the way".

In its current form, the bill - which Trump refers to as the "big beautiful bill" - has been estimated to increase the budget deficit - the difference between what the government spends and the revenue it receives - by about $600bn (£444bn) in the next fiscal year.