Elon Musk Shakes Political Landscape with New 'America Party'

Elon Musk has announced the creation of a new political entity, the 'America Party,' after severing ties with President Donald Trump over his recent tax cuts legislation. In a statement on social media platform X, Musk expressed his disdain for the existing political system, asserting that the country operates under a one-party system that stifles true democracy.

His call to action comes after Musk, once a prominent ally of Trump, warned against the passage of what he described as an 'insane spending bill.' Despite pushback from Trump, who dismissed the idea as 'ridiculous,' Musk appears determined to make an impact in the 2026 elections, potentially altering Congressional control with his considerable financial backing.

The political and economic implications of Musk's move are significant, given his extensive business ties involving government contracts. While the formal establishment of the America Party remains uncertain, Musk's public grievances highlight his ongoing criticism of federal spending and government expansion, a stance that contrasts sharply with the recent trajectory of the Republican establishment.

(With inputs from agencies.)