Musk says 'the America Party is formed' in US

"Today, the America Party is formed to give you back your freedom."

The announcement from Musk comes after US President Donald Trump signed a tax-cut and spending bill into law on Friday, which the billionaire chief executive officer of Tesla fiercely opposed.

Musk spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency under his administration aimed at slashing government spending but the two have since fallen out over disagreements about the bill.

Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.

Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill.

Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.