Elon Musk announced the launch of the "America Party" via X Saturday. (Francis Chung/Politico/Bloomberg via Getty Images)
The move came just after President Donald Trump signed the "big, beautiful bill" into law Friday at the White House.
The sweeping $3.3 trillion legislation includes tax cuts, infrastructure spending and stimulus measures and has drawn criticism from fiscal conservatives and libertarians. Though Musk did not reference the bill directly in his America Party posts, the timing suggests rising friction between the billionaire and the president. Musk has previously warned that unchecked spending by both parties threatens the long-term health of the economy.
The new party, according to Musk’s posts, will target a few key seats in Congress. The goal is to create a swing bloc powerful enough to hold the balance of power and block what Musk sees as the worst excesses of both Republicans and Democrats.
Elon Musk's America Party announcement comes after President Donald Trump signed his "big, beautiful bill" at the White House Friday. (Samuel Corum/Getty Images)
One of the biggest third-party efforts in recent history was Ross Perot’s 1992 run.
He earned nearly 19% of the popular vote as an independent but didn’t win a single Electoral College vote. It was the closest a third-party candidate got to the White House after President Teddy Roosevelt's famed Bull Moose Party run in 1912 against his onetime protégé, William Howard Taft.
Others, like Ralph Nader, have tried with the Green Party, and Gary Johnson with the Libertarian Party, but no third-party candidate has come close to winning the Presidency.
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The White House did not immediately respond to Fox News Digital's request for comment.
Jasmine is a writer at Fox News Digital and a military spouse. Stories can be sent to jasmine.baehr@fox.com or to @JasmineSBaehr via X.
https://www.foxnews.com/politics/elon-musk-launches-america-party-after-trump-signs-historic-spending-bill-waste-graft