#CryptoIntegration Elon Musk has launched the "America Party," a new political party in the United States, following a public fallout with President Donald Trump over a tax and spending bill. The party's primary focus will be on promoting fiscal responsibility and innovation.
*Key Points About the America Party:*
- *Formation*: Musk announced the party's formation on his social media platform X, stating it would give people back their freedom.
- *Goals*: The party aims to prioritize fiscal responsibility and innovation, targeting lawmakers who supported the bill that Musk opposed.
- *Target*: Musk plans to spend heavily to defeat lawmakers who backed the bill, particularly in the 2026 midterm elections.
- *Party Status*: The America Party has not been officially registered with the Federal Election Commission, raising questions about its legal status.
*Musk's Feud with Trump:*
- *Tax Bill Disagreement*: Musk opposed the tax bill, citing concerns about eliminating electric vehicle subsidies and increasing the national debt.
- *Personal Attacks*: Trump has reportedly threatened to pull government contracts from Musk's companies, while Musk has signaled readiness for a political fight.
- *Impact on Tesla Stock*: Tesla shares have dropped amid the escalating Musk-Trump feud, with investors weighing the impact on Musk's business empire.¹