On Monday, June 30, Musk vowed that if the Republican-controlled Congress passed Trump's "Big, Beautiful Bill" — which the Tesla CEO has repeatedly slammed — he would form and fund the "America Party" in an effort to oust GOP lawmakers.

Elon Musk, the world’s richest man, suggests the new party would focus “on just 2 or 3 Senate seats and 8 to 10 House districts.”