Billionaire Elon Musk warns he will form a new party if the US Congress passes the controversial spending bill.

Billionaire Elon Musk. Photo: Xinhua
Elon Musk has just strongly opposed the spending bill proposed by President Donald Trump , threatening to form a new political party called “America” ​​if the budget plan is passed by the US Congress.

On the social media platform X, Mr. Musk wrote: “The ‘America’ Party will be born the day after this crazy spending bill is passed. The country needs an alternative to the ‘Democrat-Republican coalition’ so that the people can have a real voice.” This statement implied criticism of both major political parties in the US for operating for their own interests rather than the interests of the people.

The announcement comes as the Senate pushes ahead with the “big, beautiful bill,” a budget proposal seen as a cornerstone of Mr. Trump’s second-term plans. But the bill faces major concerns about its potential to increase the national debt, with the Congressional Budget Office estimating that it would add about $3.3 trillion to the deficit over the next decade.

Mr Trump argued that the bill would boost economic growth and help make up for the lack of spending cuts, and he wanted Congress to pass the bill before Independence Day on July 4.

However, Mr. Musk rejected that view and did not hesitate to attack the congressmen who supported it: “Congressmen who ran on a pledge to reduce government spending but voted for the bill that caused the largest increase in national debt in history should hang their heads in shame! They will lose next year’s election if that is the last thing I do on this Earth.”

This is not the first time Elon Musk has opposed the Trump administration’s spending plan. In early June, he criticized the House version of the bill, which strained the relationship between Musk and Trump. The two sides then sparred publicly on social media .

Although he cannot run for president because he was born in South Africa, Elon Musk has emphasized the possibility of forming a new party as a means of expressing his opposition to the current political system. This could shake up the Republican Party’s loyal base if it gains widespread support.