Elon Musk Announces Formation of New Political Party Following Dispute with Trump

Billionaire Elon Musk announced on Saturday that he is forming a new political party, the America Party, following a disagreement with former President Donald Trump over the passing of a domestic policy bill. Musk, who was a major donor to Trump's 2024 campaign and a close adviser, criticized the bill for potentially increasing the federal deficit. This led to a falling out between the two men, with Musk expressing regret for his social media posts but reigniting the feud as the bill was signed into law.

While Musk has not yet taken formal steps to register the party with the Federal Election Commission, he has indicated that the party would focus on fiscal conservatism and reducing government spending. He plans to make the party an active force in the upcoming midterm elections, initially supporting candidates in select House and Senate races.

Despite sharing similar views on social issues, Musk has criticized the Republican policy agenda for its potential impact on national debt, calling it 'debt slavery.' The formation of a third party in the U.S. faces challenges, as past attempts have had limited success. Musk's move has drawn attention from experts in campaign finance and political science, who note the difficulties in creating a new party.

Trump, on the other hand, has threatened to reconsider government contracts with Musk's companies and criticized the Department of Government Efficiency, previously led by Musk. The dynamic between the two figures continues to evolve as Musk moves forward with his political ambitions.

According to the source: CNN.