WASHINGTON(National Times)- The tattered bromance between Republican President Donald Trump and his main campaign financier Elon Musk took another fractious turn on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump\u2019s “big, beautiful” tax bill would bankrupt America. A day after asking his followers on his X platform whether a new US political party should be created, Musk declared in a post on Saturday: “Today, the America Party is formed to give you back your freedom.” “By a factor of two to one, you want a new political party and you shall have it!” he wrote. The announcement from Musk comes after Trump signed his self-styled “big, beautiful” tax-cut and spending bill into law on Friday, which Musk fiercely opposed. Musk, who became the world\u2019s richest man thanks to his Tesla car company and his SpaceX satellite firm, spent hundreds of millions on Trump\u2019s re-election and led the Department of Government Efficiency from the start of the president\u2019s second term, aimed at slashing government spending. The two have since fallen out spectacularly over disagreements about the bill. Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill. Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk\u2019s companies receive from the federal government. Republicans have expressed concern that Musk\u2019s on-again, off-again feud with Trump could hurt their chances of protecting their majority in the 2026 midterm congressional elections. Asked on X what was the one thing that made him go from loving Trump to attacking him, Musk said: “Increasing the deficit from an already insane $2tr under Biden to $2.5tr. This will bankrupt the country.” He referenced the growth of Greece from subjugation to preeminence in the ancient world in another tweet, saying: “The way we\u2019re going to crack the uniparty system is by using a variant of how Epaminondas shattered the myth of Spartan invincibility at Leuctra: Extremely concentrated force at a precise location on the battlefield.” There was no immediate comment from Trump or the White House on Musk\u2019s announcement. The feud with Trump, often described as one between the world\u2019s richest man and the world\u2019s most powerful, has led to several precipitous falls in Tesla\u2019s share price. The stock soared after Trump\u2019s November re-election and hit a high of more than $488 in December, before losing more than half of its value in April and closing last week out at $315.35. Despite Musk\u2019s deep pockets, breaking the Republican\u2013Democratic duopoly will be a tall order, given that it has dominated American political life for more than 160 years, while Trump\u2019s approval ratings in polls in his second term have generally held firm above 40 percent, despite often divisive policies.<\/p>\n","protected":false},"excerpt":{"rendered":"
WASHINGTON(National Times)- The tattered bromance between Republican President Donald Trump and his main campaign financier Elon Musk took another fractious turn on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump\u2019s “big, beautiful” tax bill would bankrupt America. A day after asking his followers on his X […]<\/p>\n","protected":false},"author":2,"featured_media":107546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-107545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","entry"],"yoast_head":"\n