Elon Musk announces new 'America' party after slamming Trump's megabill
"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk wrote on his social media platform X on July 5. "Today, the America Party is formed to give you back your freedom."
The move follows his falling-out with former close ally President Donald Trump over spending levels in the president's mega-bill and concerns about it increasing the federal debt. Musk strongly criticized the bill, attempted to rally opposition to it among Republicans in Congress, and called for a new political party in response.
Trump signed the bill into law on July 4.
Musk − the world's richest person, worth $405 billion according to Forbes − spent nearly $290 billion to help Trump and other Republicans get elected. In the opening months of Trump's presidency, Musk led the effort to slash federal agencies through the Department of Government Efficiency.
The two have feuded in recent weeks, though, as Musk has strongly criticized Trump's signature bill, which includes tax cuts, increased spending on immigration enforcement and the military and deep spending cuts in Medicaid.
The legislation - dubbed by Trump the "big beautiful bill" - adds $3.4 trillion to the national debt over a decade, according to the nonpartisan Congressional Budget Office, and includes a $5 trillion increase in the debt ceiling.
Musk has railed against the legislation's impact on the debt and threatened to boost primary challengers against those who supported the bill, which included all but two Republicans in the House and three in the Senate.
"Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!" Musk wrote before Trump signed the legislation. "And they will lose their primary next year if it is the last thing I do on this Earth."
Musk polled the idea of a new political party July 4 on his social media platform X.
"Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!" Musk wrote, before citing the poll results − which were 2-1 in favor − on July 5.
"You want a new political party and you shall have it!" He declared.
The new party might be active in a limited number of races, Musk suggested.
"One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts," Musk wrote. "Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people."
Musk's new round of criticism comes after he had taken steps to repair his strained relationship with the president ‒ including personally apologizing for insults he made during his combative exit from the Trump administration last month
Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.
However, in May, after spending millions to unsuccessfully influence a Wisconsin state Supreme Court race the previous month,Musk suggested he would cease his political spending as he shifts his attention back to his companies Tesla and SpaceX.
Contributing: Reuters, Joey Garrison
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