On Monday, June 30, Musk vowed that if the Republican-controlled Congress passed Trump's "Big, Beautiful Bill" — which the Tesla CEO has repeatedly slammed — he would form and fund the "America Party" in an effort to oust GOP lawmakers.

Elon Musk, the world’s richest man, suggests the new party would focus “on just 2 or 3 Senate seats and 8 to 10 House districts.”

The idea gained momentum as Musk escalated his public rift with Donald Trump over the president’s newly signed spending bill, which passed the House by just four votes and required Vice-President JD Vance to break a 50-50 tie in the Senate.