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

Elon Musk's latest move adds to the list of steps he has taken to challenge some of President Donald Trump's policies.

Elon Musk revealed his shift from supporting Donald Trump, citing concerns over escalating government spending and the national deficit. Musk criticized both Trump and Biden for contributing to the growing deficit,