
Elon Musk says he's formed new ‘America Party.' What to know
'By a factor of 2 to 1, you want a new political party and you shall have it!' he said in a post on X.
'Today, the America Party is formed to give you back your freedom.'
The announcement from Musk comes after President Donald Trump signed a tax-cut and spending bill into law on Friday, which the billionaire chief executive officer of Tesla fiercely opposed.
0:50
Elon Musk regrets Trump posts on X: 'I went too far'
Musk spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency under the Trump administration aimed at slashing government spending, but the two have since fallen out over disagreements about the bill.
Story continues below advertisement
Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.
Get breaking National news
For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy
Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill.
Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
(Reporting by Bhargav Acharya; Editing by David Gregorio and Diane Craft)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Global News
an hour ago
- Global News
More soldiers, more money: Canada's top soldier extols benefits of spending boost
Canada's top soldier is looking forward to a boost in military spending that includes a pay raise for military personnel at a time when uncertainty on the world stage is high. NATO leaders — including Canada — have approved a plan to dramatically increase defence spending across the Western alliance to five per cent of gross domestic product over the next decade. Prime Minister Mark Carney said the move to five per cent of GDP — 3.5 per cent for core military spending and 1.5 per cent for defence-related infrastructure — will take place over the next 10 years. In an interview with The Canadian Press Saturday, Chief of the Defence Staff Gen. Jennie Carignan said work is underway to figure out how to distribute the almost 20 per cent pay hikes promised by Defence Minister David McGuinty. Story continues below advertisement 'It's an envelope that will be adapting to what we need. Some of it will be a pay increase, some of it will be for benefit allowances for specific trades or specific functions,' Carignan said. 'Yes there will be a raise this year. Yes that's the aim so we want everything to be ready for the fall and winter time.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Carignan said the amount of the pay hike will depend on a soldier's rank and allowances will be allocated to specific trades where CAF needs more people. 'For example recruiting and training is a priority. We want to make sure we encourage instructors in our schools so they're going to be additional benefits as an example,' she said. Chief Warrant Officer Bob McCann said the extra pay and benefits will be a morale booster for military personnel. 'We're in a great space right now where there's a lot of attention on defence. For the troops this is outstanding because this is why we joined. We want to serve. We want to be part of Canada's defence,' McCann said. 'We want to have equipment to train so everything that's coming is truly positive and we do have 107 trades that are highly competitive with the civilian industry so getting folks in, getting them trained, takes the pressure off the troops that are already there.' Story continues below advertisement Carignan said it's been a good year for recruiting with the CAF surpassing its objective by 2,000 for the first time in 10 years. She said fewer people are leaving the service as well. About 18 per cent of the new recruits are women. 'A very good retention rate and a lot more people coming in which means we are growing at CAF at the moment and very positive.' Carignan said plans are in place to boost the number of military personnel. 'We are focusing on going back to our full complement of regular Canadian Armed Forces members and reserve force so it's 30,000 reserves we are aiming for and 71,500 regular forces,' she said. 'We have additional positions that are also approved and as time goes by and we are close to our ceiling we will add additional forces.' Carignan said the extra funding will help keep Canada safe. 'Our geography does not protect us as well as it used to. We need to have more investment to actually exercise our own sovereignty here in Canada and of course this implies the Arctic,' she said. 'It is getting more contested, more traffic, more people interested in this area so of course we have to invest more in the Arctic to make sure our sovereignty is respected.' Story continues below advertisement Carignan wants to see more radar bases and being able to scramble jets or ships if required. 'We have to have the sensors in place — once you have seen you have to have the ability to intercept or actually act,' she said. 'This is all building blocks that goes to our providing that defensive posture we need to have in the Arctic.'


CTV News
2 hours ago
- CTV News
Israeli airstrikes kill 38 Palestinians in Gaza
A Palestinian, Adham Sabah, 39, lies outside a tent at a camp for displaced people in Khan Younis, Gaza Strip, Wednesday, July 2, 2025. (AP Photo/Abdel Kareem Hana) DEIR al-BALAH, Gaza Strip — Israeli airstrikes killed at least 38 Palestinians in Gaza, hospital officials said on Sunday, as Israel's military said it has struck over 100 targets in the embattled enclave in the past day. The strikes came as Israeli Prime Minister Benjamin Netanyahu was preparing to fly to Washington for talks at the White House aimed at pushing forward ceasefire efforts. Separately, an Israeli official said the Israeli security Cabinet on Saturday night approved sending aid into the northern part of Gaza, where civilians are suffering from acute food shortages. The official declined to offer more details. The official spoke on condition of anonymity because they were not authorized to discuss the decision with the media. In Yemen, a spokesperson for the Houthi rebel group announced in a prerecorded message that the group had launched ballistic missiles targeting Ben Gurion airport overnight. The Israeli military said these had been intercepted. President Donald Trump has floated a plan for an initial 60-day ceasefire that would include a partial release of hostages held by Hamas in exchange for an increase in humanitarian supplies allowed into Gaza. The proposed truce calls for talks on ending the 21-month war altogether. Israel strikes dozens of targets Twenty people were killed and 25 wounded after Israeli strikes hit two houses in Gaza City, according to Mohammed Abu Selmia, the director of Shifa Hospital that services the area. In southern Gaza, 18 Palestinians were killed by strikes in Muwasi, an area on Gaza's Mediterranean where many displaced people live in tents, officials at Nasser Hospital in the nearby city of Khan Younis, told The Associated Press. Two families were among the dead according to the hospital. The Israeli military had no immediate comment on the individual strikes, but said it struck 130 targets across the Gaza Strip in the last 24 hours. It said the strikes targeted Hamas command and control structures, storage facilities, weapons and launchers, and that they killed a number of militants in northern Gaza. The war began when Hamas attacked Israel on Oct. 7, 2023, killing some 1,200 people and taking 251 others hostage. Israel responded with an offensive that has killed over 57,000 Palestinians, more than half of them women and children, according to Gaza's Health Ministry. The ministry, which is under Gaza's Hamas government, does not differentiate between civilians and combatants. The UN and other international organizations see its figures as the most reliable statistics on war casualties. Ceasefire deal being discussed The strikes occur as efforts to reach a ceasefire deal appeared to gain momentum. Netanyahu's office said his government will send a negotiating team to talks in Qatar on Sunday to conduct indirect talks, adding that Hamas was seeking 'unacceptable' changes to the proposal. The planned talks in Qatar comes ahead of Netanyahu's planned visit on Monday to Washington to meet U.S. President Donald Trump to discuss the deal. It is unclear if a deal will be reached ahead of Netanyahu's White House meeting. Hamas has sought guarantees that the initial truce would lead to a total end to the war and withdrawal of Israeli troops from Gaza. Previous negotiations have stalled over Hamas demands of guarantees that further negotiations would lead to the war's end, while Netanyahu has insisted Israel would resume fighting to ensure the militant group's destruction. Chehayeb reported from Beirut. Associated Press reporter Tia Goldenberg contributed from Tel Aviv. Wafaa Shurafa And Kareem Chehayeb, The Associated Press


CBC
2 hours ago
- CBC
Elon Musk announces new 'America Party' after Trump's massive spending bill becomes law
The dispute between U.S. Republican President Donald Trump and his main campaign financier Elon Musk took another fractious turn on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump's "big, beautiful" tax bill would bankrupt America. A day after asking his followers on his X platform whether a new U.S. political party should be created, Musk declared in a post on Saturday: "Today, the America Party is formed to give you back your freedom." "By a factor of 2 to 1, you want a new political party and you shall have it!" he wrote. The announcement from Musk comes after Trump signed his self-styled "big, beautiful" tax-cut and spending bill into law on Friday, which Musk fiercely opposed. WATCH | What drove a wedge between Trump and Musk: Will Donald Trump and Elon Musk destroy each other? 25 days ago Duration 25:36 Musk, who became the word's richest man thanks to his Tesla car company and his SpaceX satellite firm, spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency, aimed at slashing government spending, from the start of the president's second term. The first sign of investor dissatisfaction with Musk's announcement followed later in the day. Investment firm Azoria Partners will postpone the listing of a Tesla exchange-traded fund, Azoria CEO James Fishback said in a post on X. Fishback is asking Tesla's board to clarify Musk's political ambitions and said the new party undermines the confidence shareholders had that he would be focusing more on the company after leaving government service in May. Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill. Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government. Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections. Asked on X what was the one thing that made him go from loving Trump to attacking him, Musk said: "Increasing the deficit from an already insane $2T under Biden to $2.5T. This will bankrupt the country." There was no immediate comment from Trump or the White House on Musk's announcement. The feud with Trump, often described as one between the world's richest man and the world's most powerful, has led to several precipitous falls in Tesla's share price. The stock soared after Trump's November re-election and hit a high of more than $488 US in December, before losing more than half of its value in April and closing out last week at $315.35 US. Despite Musk's deep pockets, breaking the Republican-Democratic duopoly will be a tall order, given that it has dominated American political life for more than 160 years, while Trump's approval ratings in polls in his second term have generally held firm above 40 per cent, despite often divisive policies.