Elon Musk Launches ‘America Party’ After Tax Bill Sparks Rift with Trump

Elon Musk has announced the formation of a new political party, the ‘America Party,’ following a public split with President Donald Trump over a recently signed sweeping tax cuts law. The Tesla and SpaceX CEO declared the party’s creation on Saturday, fulfilling a threat he made if the tax legislation, which he labeled an ‘insane spending bill,’ passed.

Musk stated on X, the social media platform he owns, that the new party aims to counter what he perceives as a ‘one-party system’ focused on ‘waste & graft,’ promising to ‘give you back your freedom.’ This move marks a significant break from President Trump, whom Musk had previously supported financially in his 2024 campaign.

President Trump, responding to reporters on Sunday, dismissed Musk’s proposition as ‘ridiculous,’ asserting the historical efficacy of the two-party system and the Republican Party’s success. He suggested that a third party would only add ‘confusion.’ The new tax cuts law, signed into effect on Friday, was a point of contention for Musk, who criticized it as a ‘disgusting abomination’ that would drastically increase the national debt.

While the formal steps for the ‘America Party’ are still unconfirmed, Musk spent Sunday engaging with users on X, indicating his intention for the party to be involved in the 2026 midterm elections. The billionaire’s decision to enter the political fray with a new party raises questions about its potential impact on the upcoming elections, given his significant wealth, despite the historical challenges faced by third parties in the U.S. political landscape.

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