Elon Musk threatened to create a new political party as the US Senate considers Trump’s One Big Beautiful Bill Act. But can he do that? Billionaire entrepreneur Elon Musk declared on Monday that he would create a new political party in the United States if a Republican-leaning Congress approves President Donald Trump’s “One Big Beautiful Bill,” which calls for tax incentives and cuts in funding for healthcare and food programs.
Musk has criticised the bill several times throughout the last month and started proposing the concept of the new party on social media in early June. Musk has been claiming that Republicans would be no different from Democrats, who are normally blamed by conservatives for wasting taxpayers’ money, if the bill is enacted.
The bill the Senate is currently debating, should it be passed by Congress in both houses, would grow the national debt by $3.3 trillion between 2025 and 2034. The US national debt is currently over $36 trillion.
“If this crazy spending bill passes, the America Party will be created tomorrow,” Musk wrote on his platform, X, on Monday. Our nation requires a third option to the Democrat-Republican uniparty so that the citizens have a VOICE.”
In a previous post, Musk wrote: “It is clear with the crazy spending of this bill, which raises the debt ceiling by a record FIVE TRILLION DOLLARS that we are a one-party nation – the PORKY PIG PARTY!!” The US Congress-established debt ceiling defines the maximum level of the amount that can be borrowed by the US Treasury. The current debt ceiling is $36.1 trillion.
On June 3, Musk posted on X: “I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.”
Musk accused Trump of being associated with disgraced financier Jeffrey Epstein in a since-deleted X post. Trump and Musk, however, appeared to have come to a truce after Trump made it clear to the press that he wished Musk well while the latter posted on X on June 11 that he had “gone too far” in his attacks on the US president.
But since then, Musk has countered in a series of online tweets that the bill would raise the debt ceiling, “bankrupt America”, and “destroy millions of jobs in America”. Musk is the owner of electric vehicle (EV) maker Tesla. The latest version of the bill, amended by the Senate, would phase out the tax credit of up to $7,500 for EV purchases, beginning on September 30. This may lower consumer demand for EVs in the US.
