Elon Musk said he's carrying out his threat to form a new political party after his fissure with President Trump, announcing on social media that he would form the America Party in response to the president's sweeping new law.

More than a month after their initial social media bluster, Elon Musk has announced the formation of a new U.S. political party in response to U.S. President Donald Trump signing his sweeping tax and spending bill into law.

President Trump commented on reports that Elon Musk plans to found a new political party called the "America Party after the GOP passed its "Big, Beautiful Bill." "He can have fun with it, but I think it's ridiculous,