On the 5th local time, American billionaire Elon Musk announced the establishment of the 'America Party' on social media and replied to netizens that "the new political party will participate in the election next year." Later, Musk revealed the reason for his falling out with US President Trump.

According to a report by the Australian Broadcasting Corporation, a netizen asked Musk what made him "turn from love to hate" for Trump. Musk replied: "(Trump) expanded the fiscal deficit of US$2 trillion, which was already at a crazy level during the Biden period, to US$2.5 trillion, which will bankrupt the country."

Musk and Trump have recently had disagreements over the 'Big Beautiful' tax and spending bill. On June 3rd, Musk, who had just left his post as head of the U.S. Department of Government Efficiency, posted on social media, criticizing the 'Big Beautiful Bill' on large-scale taxation and spending pushed by the Trump administration as "disgusting."

Musk also posted that day: "Congress is bankrupting the United States." "This will significantly increase the already huge budget deficit to $2.5 trillion and impose an unbearable debt burden on American citizens."

On the afternoon of July 3rd, the U.S. House of Representatives passed the 'Big Beautiful Bill' promoted by President Trump with a vote of 218 in favor and 214 against. The bill was passed by the Senate on the 1st of this month. Domestic concerns in the United States are that the bill will further exacerbate the U.S. fiscal deficit and debt risks.

A few hours before the bill was signed into law, Musk once again posted a vote on the establishment of a new party on social platforms, asking netizens whether they should form an 'America Party' to liberate the American people from the two-party system in which the Democratic Party and the Republican Party take turns to come to power. Among the approximately 1.249 million votes received from netizens, 65.4% were supporters and 34.6% were opponents.

On the 5th, Musk responded to the previous day's post by saying, "The ratio of support and opposition is 2:1, which shows that you want a new political party, and you will have a new party." Musk wrote that the United States is "bankrupt due to waste and corruption," and said, "Today, the establishment of the 'America Party' will give you freedom."

Under the above-mentioned post announcing the establishment of the 'America Party', when a netizen asked Musk whether his new party would participate in the 2026 midterm elections or the 2028 presidential election, Musk replied, "Next year."

According to U.S. law, when a political party is established that is qualified to participate in elections, confirmation of its qualifications requires a complex certification process. First, a caucus or congress must be held to elect temporary officials and specify the name of the party. It’s unclear whether Musk’s 'America Party' has initiated relevant procedures.

In addition, some US media pointed out that Musk’s establishment of a new political party itself is full of obstacles. CBS pointed out that Musk did not provide any other details about the formation of the 'America Party' on the 5th, but to establish a new political party, Musk will need to deal with complex state laws, time-consuming election rules and fierce litigation.

"State laws in all states favor the two major parties and create as many obstacles as possible for the emergence of a third party," said U.S. election expert Brett Kappel.

"The threshold for creating a new political party and getting it to participate in elections is high. If you had a steady stream of funding, it might be possible, but it would take a long time and would cost hundreds of millions of dollars," Kappel said.