The day after asking his followers on X if a new political party should be formed in the United States, Elon Musk announced on Saturday that the «The America Party has been formed.» «By a margin of two to one, you want a new political party, and you’ll get it!» he posted on X, adding, «Today, the USA Party is formed to give you back your freedom.» Musk’s announcement comes after President Donald Trump signed a tax and spending cut bill on Friday that the billionaire Tesla CEO fiercely opposed.
Musk spent hundreds of millions on Trump’s reelection campaign and ran the Department of Government Efficiency, which aimed to cut government spending. However, the two have since drifted apart due to disagreements about the bill. Earlier this week, Trump threatened to cut off billions of dollars in grants that Musk’s companies receive from the federal government.
Musk had previously said he would found a new political party and spend money to unseat lawmakers who support the bill.
Republicans are concerned that Musk’s feud with Trump will hurt their chances of maintaining a majority in the 2026 congressional elections.
The businessman added that one ‘way to exert’ influence in the current bipartisan system in the U.S., dominated by the Republican Party and the Democratic Party, would be to focus on obtaining ‘only 2 or 3 Senate seats and 8 to 10 House districts.»Given the legislative margins, thin as a blade, that would be enough to serve as the decisive vote on contentious laws, ensuring that they reflect the true will of the people,’ said the businessman, who spent nearly $300 million on Trump’s campaign.
Musk resigned at the end of May as the efficiency head in the White House amid disagreements with Trump over the so-called ‘great and beautiful law’ that the latter signed yesterday, on the festive July 4th in the U.S., which is expected to increase the country’s deficit and debt.
