In a stunning political development, billionaire entrepreneur Elon Musk announced the formation of a new political party, the America Party, citing a deepening ideological rift with former President Donald Trump over the recently passed 2025 tax cuts law.
“This was the final straw,” Musk posted on X, formerly Twitter. “America needs a future-focused party—not one anchored in corporate cronyism.”
The statement came just hours after Trump signed off on the controversial Tax Simplification and Growth Act, which slashes corporate tax rates and eliminates several green energy incentives—key to Tesla’s long-standing growth strategy.
Key Developments:
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Musk announced the America Party on social media at 9:41 a.m. ET Sunday.
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The split stems from the 2025 tax law that Musk calls “environmentally regressive.”
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No details yet on candidates or national organization structure.
Musk had previously hinted at political ambitions, but today’s formal declaration marks the first tangible step toward building a political platform of his own. Trump’s campaign has not issued a formal response yet, though a senior advisor dismissed Musk’s move as “ego-driven theatrics.”
What’s Next:
Musk is expected to speak at a Silicon Valley town hall later this week. Political analysts say his new party could impact independent and Libertarian voter bases ahead of the 2026 midterms.