Elon Musk launches America Party after Trump signs historic spending "Bill"

Elon Musk says he is forming new political party after fallout with Trump

In a dramatic move shaking up the U.S. political landscape, billionaire Elon Musk announced on Saturday the formation of a new political party—the America Party. The declaration followed a public fallout with former President Donald Trump, signaling Musk’s commitment to act on previous warnings if the president’s domestic policy bill became law. On his social media platform X, Musk stated; 

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.”

Key Points:

• Elon Musk announces the formation of a new political party called the America Party.

• The move follows a fallout with Trump and opposition to a $3.3 trillion bill.

• Musk criticizes the U.S. system as a corrupt “one-party” establishment.

• Over 1.2 million people voted in favor of a new party in a July 4 poll on X.

• The America Party will initially focus on midterm elections and fiscal conservatism.

• Musk claims both major parties are contributing to economic “debt slavery.”

Musk’s decision appears rooted in growing disillusionment with both major parties, particularly regarding fiscal responsibility. He criticized the recently passed $3.3 trillion legislation, which includes tax cuts, infrastructure spending, and stimulus measures, for contributing to what he calls “debt slavery.” Although he didn’t mention the bill directly, the timing of his announcement—just a day after Trump signed the bill—strongly suggests a direct response.

Earlier this month: Top Stock Movers: Hewlett Packard Enterprise, Moderna, Tesla

Despite aligning with Trump on several social issues, Musk has distanced himself from the Republican economic agenda, accusing it of reckless spending. He described the political system as a;

“corrupt political establishment that no longer represents the American people.” 

The tech mogul envisions the America Party as fiscally conservative, focused on reining in government spending and restoring democratic accountability.

Musk's announcement also came after a viral July 4 poll he posted on X, in which over 1.2 million users voted. A striking 65.4% supported the idea of breaking away from the “two-party (some would say uniparty) system.” Following the results, Musk declared, “By a factor of 2 to 1, you want a new political party and you shall have it.”

While details of the America Party’s full platform remain unclear, Musk has confirmed the party will become an active political force by the next year’s midterm elections. Initially, it plans to support candidates in select House and Senate races, aiming to challenge the dominance of the current two-party system and offer what Musk calls a “real alternative” to the American people.