(Al Jazeera Media Network) Billionaire Elon Musk said on Monday that he would form a new political party in the United States if a Republican-leaning Congress passes President Donald Trump’s “One Big Beautiful Bill”, which proposes tax breaks and funding cuts for healthcare and food programs.
Musk has voiced criticism of the bill on multiple occasions over the past month and began suggesting the idea of the new party on social media starting early June.
The bill, which passed narrowly in the U.S. Senate today (Tuesday), goes before the House of Representatives on Wednesday.
Musk has been saying that if the bill is passed, Republicans are no different from Democrats, who are often accused by conservatives of being profligate with spending taxpayers’ dollars.
The version of the bill that the Senate is discussing at the moment, if passed by both chambers of Congress, would expand the national debt by $3.3 trillion between 2025 and 2034. The current US national debt stands at more than $36 trillion.
“If this insane spending bill passes, the America Party will be formed the next day,” Musk posted on his social media platform X on Monday.
“Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.”
In an earlier post, Musk wrote: “It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!”
The debt ceiling, set by the US Congress, determines the upper limit to the amount of money that the US Treasury can borrow. The current debt limit is $36.1 trillion.
Some experts say Musk, whose net worth is $363 billion as of Monday according to the Bloomberg Billionaires Index, would realistically be able to fund a third party in the US. However, it is unclear whether he would go ahead with his plan or whether his party would have a significant effect on US elections.
