Elon Musk announces new political party amid rift with Donald Trump

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Elon Musk announced the formation of a new political party amid his harsh criticism of President Donald Trump’s signature law.

“When it comes to bankrupting our country with waste and grafts, we live in a one-party system, not a democracy,” Musk wrote on social media platform X on July 5th.

The move follows his defeat with former ally Donald Trump over the level of spending on the president’s giant buildings and concerns about increasing federal debt. Musk strongly criticized the bill, sought to link opposition among Congressional Republicans, calling for a new political party accordingly.

Trump signed the bill on July 4th.

According to MUSK-Forbes, the world’s wealthiest person, worth $400 billion — spent about $290 billion to help Trump and other Republicans get elected. During the first months of Trump’s presidency, Musk led efforts to cut federal agencies through government efficiency.

But the two have rebutted in recent weeks as Musk has been heavily criticising Trump’s signature bill, including tax cuts, increased spending on immigration enforcement, and Medicaid’s military and deep spending cuts.

The law, dubbed “Big Beautiful Bill” by Trump, adds $3.4 trillion to national debt over a decade, including an increase in the debt cap of $5 trillion, according to the nonpartisan Congressional Budget Office.

Musk opposed the impact of the law on debt, threatening to increase the number of key challengers to all but two Republicans in the House and those who supported the bill, including three in the Senate.

“All members of Congress who campaigned to cut government spending and quickly voted for the biggest debt increase in history should be in embarrassment and bowed their heads!” Musk wrote before Trump signed the legislation. “And if that’s the last thing I do on this planet, they’ll lose their primary next year.”

Musk voted for the idea of ​​a new political party on social media platform X on July 4th.

“Independence Day is the perfect time to ask if you want to be independent of the two-person party (called Uniparty) system!” Musk wrote before citing the vote results that were supported 2-1 on July 5th.

“You want a new political party, and you’ll have it!” he declared.

The new party may be operating in a limited number of races, Musk proposed.

“One way to do this is to focus laser focus on areas of 8-10 homes with just two or three Senate seats,” Musk wrote. “Given the thin legislative margins of razors, it is sufficient to serve as a decisive vote against controversial laws, ensuring they serve the true will of the people.”

Musk’s new round of criticism comes after he took steps to repair tensions with the president — including his personal apology for the insults he undertook at his combat exit from the Trump administration last month

Earlier this week, Trump threatened to cut off billions of dollars in grants mask businesses receive from the federal government.

But in May, after millions of people failed to compete in the Wisconsin Supreme Court last month, Musk proposed to turn his attention back to his company Tesla and SpaceX and stop his political spending.

Contributions: Reuters, Joey Garrison

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