Trump’s Tax Bill Sparks Elon Musk’s New Political Crusade

In a dramatic shakeup of the political landscape, billionaire Elon Musk announced the formation of the “America Party” on Saturday, marking a deepening rift with President Donald Trump. Musk, who once served in Trump’s cabinet and helped bankroll his re-election, slammed the president’s newly signed tax-and-spending bill as reckless, warning it would “bankrupt the country.” Vowing to unseat lawmakers who backed the legislation, Musk’s declaration comes just a day after polling his X platform followers on the idea of a new party—receiving overwhelming support. The move has already sparked backlash from investors and stirred anxiety within GOP circles, as fears grow that the Musk-Trump feud could threaten Republican chances in the 2026 midterms.