President Donald Trump, right, speaks during a news conference with Elon Musk in the Oval Office of the White House, Friday, May 30, 2025, in Washington.
Evan Vucci/AP
hide caption
toggle caption
Evan Vucci/AP
In a bold move that could reshape the political landscape, Elon Musk has officially launched the America Party, marking a significant rift with President Donald Trump over recent tax legislation. Musk’s decision follows his opposition to Trump’s newly enacted tax cuts, which he believes exacerbate national financial issues.
Previously a staunch supporter of President Trump, Musk’s relationship soured as the tax bill progressed through Congress. Musk had warned of this move, stating he would create the “America Party” if the “insane spending bill” passed.
On social media platform X, Musk proclaimed, “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.”
Though the formation of new political parties is not uncommon, they often struggle to draw away significant support from the major parties. However, Musk’s financial prowess—having invested at least $250 million in Trump’s 2024 campaign—could influence the 2026 congressional elections.
The split with Trump could bear financial implications for Musk, whose enterprises heavily depend on government contracts. The uncertain fate of Tesla’s market performance adds to these challenges.
As of Sunday, it was unclear if Musk had completed formalities to establish the America Party. Spokespersons for Musk and his America PAC did not comment on the matter.
Various entities with names similar to “America Party” appeared in the Federal Election Commission database, but none seemed legitimate, citing dubious email contacts like “wentsnowboarding@yahoo.com.”
Musk actively engaged with users on X, discussing the party’s future and indicating plans to participate in the 2026 midterms. Previously, he threatened to unseat Congress members who supported Trump’s bill, which he condemned as a “disgusting abomination” for increasing the deficit.
“The Republican Party has a clean sweep of the executive, legislative and judicial branches and STILL had the nerve to massively increase the size of government, expanding the national debt by a record FIVE TRILLION DOLLARS,” Musk asserted on X.
This political pivot contrasts with Musk’s earlier statement about reducing his political involvement after his tenure in the White House ended.
On CNN’s “State of the Union,” Treasury Secretary Scott Bessent remarked on the divisive nature of Musk’s political stances, suggesting stakeholders might prefer Musk to focus on his business ventures rather than political aspirations.
