Ken Griffin, the founder of Citadel, said Tuesday in New York that the Trump administration and Republicans made a mistake by renewing the 2017 tax cuts without the budgetary room needed to fund them. The One Big Beautiful Bill Act made the lowest individual income tax rates permanent and added deductions for tips, overtime pay and certain car loan interest, thereby reducing government revenue. The Congressional Budget Office estimates that the law will add $4.1 trillion to federal deficits between 2025 and 2034, including borrowing costs, as the national debt reaches approximately $40.4 trillion. Net interest payments reached $1.05 trillion in fiscal 2026, up 8 % from the previous year, and Griffin urged Washington to raise revenue or cut spending. Despite his criticism, the billionaire donated $25 million to Republicans and Florida gubernatorial candidate Byron Donalds, while calling for greater investment in artificial intelligence, nuclear power, batteries and robotics.
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