An “Abomination” & Calls for a Breakup: The Trump Agenda Bill 6/4/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 4 June 2025

⏱️ 41 minutes

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Summary

Elon Musk has spoken out against President Trump’s mega-bill, calling it a “disgusting abomination” in a recent post on X. As the Senate negotiates changes to that reconciliation bill, Senator Ron Johnson is pushing to split the legislation into at least two parts to address his concerns about government spending. Plus, former eBay and StockX CEO Scott Cutler is now leading HealthEquity, where he’s taking on the challenges and promises of flexible savings accounts for U.S. employees. Ron Johnson - 16:37 Scott Cutler - 35:38 In this episode: Senator Ron Johnson Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:04.3	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on our big, beautiful squawk pod.
0:10.4	The reconciliation bill's fate in the Senate, Wisconsin Republican Ron Johnson, has some
0:15.6	major edits like crunching the numbers on the deficit and chopping it in half.
0:20.0	Very respectfully, we just have to say, Mr. President, I'm sorry.
0:23.4	One big beautiful bill was not the best idea.
0:25.7	We should have done what John Thune always wanted to do, split this up into multiple parts.
0:30.6	And making the most of saving pre-tax dollars for your health, Scott Cutler, a former
0:35.6	technology executive, now leading health equity.
0:38.3	One in four Americans cannot actually afford a $400 unexpected medical expense.
0:44.3	Plus, from the bromance to an abomination, the world's richest man sours on the spending of the Trump administration.
0:52.3	I don't completely question Musk's motives for being angry with this.
0:56.0	It's Wednesday, June 4th, 2025. Squawk Pod begins right now.
1:02.0	Stand Becky by in three, two, one.
1:05.0	Cuea, please.
1:07.0	Good morning, everybody.
1:09.0	Welcome to Squawkbox right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick along with Joe Kernan. Andrew is out today. We are now looking at four days in a row of gains for the Dow, two days in a row of gains for the S&P 500 in the NASDAQ. And by the way, the S&P at this point, less than 3% from the all-time high.
1:28.8	2.8%.
1:29.8	2.88, I think, if you carry it out.
1:32.3	6144, I think.
1:34.6	And to get back there, you need 3%
	...

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