Musk threatens to form new party over Trump's 'insane' $5 trn spending bill

Elon Musk criticises Trump's debt ceiling bill as 'fiscally reckless', warns Congress members of primary losses

Tech billionaire Elon Musk has described US President Donald Trump's controversial 'One Big Beautiful Bill Act' as “insane” fiscal policy, threatening to launch his own political outfit if the bill is passed by the US Senate.

 

In a series of posts on X on Monday evening, Musk, a former Trump ally, accused both Republicans and Democrats of abandoning fiscal responsibility, branding the current political landscape as a “one-party country – the porky pig party”.

 

“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,” Musk wrote. “Time for a new political party that actually cares about the people.”

 

 

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!!  Time for a new political party that actually cares about the people.

— Elon Musk (@elonmusk) June 30, 2025

 

 

Trump’s bill draws criticism for welfare, clean energy cuts

Trump’s 'One Big Beautiful Bill Act' is a sweeping tax and spending package that has divided Republicans, particularly over cuts to welfare and healthcare programmes. The bill also proposes cuts to electric vehicle and clean energy tax credits, which has led to Musk condemning it as “incredibly destructive”, warning it would wipe out millions of jobs in future-focused industries while propping up “industries of the past”.

 

Elon Musk targets Republicans backing the bill

Musk singled out conservative lawmakers who have long championed austerity. “How can you call yourself the Freedom Caucus if you vote for a DEBT SLAVERY bill with the biggest debt ceiling increase in history?” the Tesla CEO wrote on X.

 

“Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth,” he added.

 

Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!  And they will lose their primary next year if it is the last thing I do on this Earth.

— Elon Musk (@elonmusk) June 30, 2025

 

Musk plans ‘America Party’

In another post, Musk hinted at launching a new party. “If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE,” he said.

 

If this insane spending bill passes, the America Party will be formed the next day.  Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.

— Elon Musk (@elonmusk) June 30, 2025

 

Musk also shared a satirical image of Pinocchio with the word 'liar' above it in all caps, accusing lawmakers of backing a $5 trillion rise in the national debt.

 

Anyone who campaigned on the PROMISE of REDUCING SPENDING , but continues to vote on the BIGGEST DEBT ceiling increase in HISTORY will see their face on this poster in the primary next year pic.twitter.com/w13Qkm2e1A

— Elon Musk (@elonmusk) July 1, 2025

 

Elon Musk–Donald Trump fallout

This latest series of posts marks an escalation in the rift between Trump and Musk since the tech entrepreneur's departure from DOGE, which was tasked with cutting $2 trillion from the US budget. He has repeatedly criticised the administration over the proposed tax bill.

 

Trump has not responded to the latest tirade of social media posts. In a pre-recorded interview aired on Fox News’ Sunday Morning Futures, Trump had said, “I haven’t spoken to him (Musk) much, but I think Elon is a wonderful guy, and I know he’s going to do well always... but he got a little bit upset, and you know that wasn’t appropriate.”

 

Republicans expect bill to pass amid Democratic outcry

Meanwhile, Democrats have also attacked the bill, particularly over an amendment introduced by Senator Rick Scott, which is projected to strip Medicaid coverage from up to 20 million Americans, according to estimates cited by BBC. In protest, Senate Democrats forced a full reading of the 940-page bill on Sunday, delaying proceedings by 16 hours. However, the vote is expected to be complete by Tuesday morning (local time).

 

White House Press Secretary Karoline Leavitt said on Monday that the US President remains confident of the bill’s passage and expects to sign it by the fourth of July, in line with the administration’s self-imposed deadline.