Elon Musk announces creation of “America Party” after criticism of Trump’s spending bill

On Saturday, Elon Musk surprised everyone by announcing the creation of the “America Party,” a new political alternative aimed at breaking with the bipartisan hegemony of the United States. The decision came shortly after President Donald Trump signed the controversial bill dubbed the “Big Beautiful Bill,” which includes tax cuts, increased discretionary spending and reduced social benefits.

Despite having supported Trump in the 2024 elections, Musk was blunt in his opposition to the proposal. In previous statements, the billionaire had already mocked the name of the project, saying that “no project can be big and beautiful at the same time”, and argued that effective initiatives must be lean and well-formulated.

By a factor of 2 to 1, you want a new political party and you shall have it!

When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.

Today, the America Party is formed to give you back your freedom.

- Elon Musk (@elonmusk) July 5, 2025

On the Monday before the bill passed, Musk had issued a blunt warning: if the “insane spending bill” went ahead, he would create a new political group to represent the interests of the people, outside the framework of the current Democratic-Republican system. With the bill’s approval in Congress and presidential signature, Musk made good on his promise and formalized his intention to launch the “Party of America.”

“Our country needs an alternative to the Democratic-Republican one-party system so that the people can truly have a VOICE,” Musk wrote on his Facebook profile. He then launched a poll among his 221 million followers, asking whether he should start the new party. The response was overwhelming: more than 65% of the 1,2 million participants voted “yes.”

The impact of the announcement also reverberated in the cryptocurrency market. Several meme tokens inspired by the name “America Party” registered significant increases, according to data from GeckoTerminal. Despite the enthusiasm on social media and digital markets, there is no concrete evidence so far that Musk is legally structuring the new party.

The proposal, however, is already stirring up both the political debate and the crypto community, especially investors attentive to token trends driven by cultural phenomena and statements from influential figures like Musk.