Elon Musk formally filed documents with the Federal Election Commission to establish the “America Party” on July 5, 2025.

Musk launched the party in direct response to President Trump’s recent tax-cut and spending package—referred to as the “Big Beautiful Bill”—which he criticized for inflating the national deficit. He argued the bill would “bankrupt America” and accused the current system of turning the country into a de facto one‑party plutocracy.

President Trump denounced the move as “ridiculous” and warned that forming a third party could lead to “chaos” and risk federal contracts/subsidies for Musk’s companies