Just do it! Musk announces the establishment of the "American Party" to "avoid the bankruptcy of the United States."

Elon Musk officially announced the establishment of the "American Party," aiming for key positions in the 2026 midterm elections. According to CCTV News, on July 5 local time, American entrepreneur Elon Musk posted on social media platform X, stating that the "American Party" was established on that day to restore freedom to the people. This development comes as Musk and Trump have a fierce disagreement over the "Big Beautiful Bill." On June 30, Musk sharply criticized the bill and stated that if it passed, the "American Party" would be established the next day. The bill was signed into effect by Trump on July 4. Hours before the bill was signed, Musk initiated an online poll to ask whether the "American Party" should be established, with about 1.249 million netizens participating in the vote, 65.4% of whom expressed support. Based on this result, Musk officially announced the establishment of the new party on July 5. This statement directly challenges Trump's authoritative position within the Republican Party and marks a complete rupture of their political alliance. Musk also hinted to netizens that the "American Party" will participate in the 2026 midterm elections, providing a time window for fundraising, organizational structure, and candidate selection. According to Federal Election Commission regulations, new political parties do not need to formally register with the Federal Election Commission unless their fundraising or spending exceeds a specific threshold. Analysts point out that with Musk's financial resources, funding will not be a limiting factor. Some netizens speculate that the political agenda of the "American Party" may include reducing debt spending, promoting AI technology development, and fully relaxing regulations, to which Musk responded, "That's right!" Plans to leverage a few key positions to influence congressional decisions Wall Street Insight previously mentioned, on the 4th, Musk revealed during the online poll that the **"American Party" will initially focus on 2-3 Senate seats and 8-10 House districts, attempting to become a decisive force in Congress through these key positions ** This strategy is in stark contrast to the traditional approach of political parties trying to win a majority of seats. Musk aims to become the "critical minority" in Congress, influencing policy-making by playing a decisive role in key votes. Musk pointed out that in the current situation where the distribution of congressional seats is extremely close, this precise strategy is sufficient to influence significant legislation and ensure that it "truly represents the will of the people." The Financial Clash with Trump: The Catalyst for Musk's Shift The backdrop of Musk's announcement to establish a new political party is his fierce conflict with Trump over fiscal policy. The $3.3 trillion "Big Beautiful Bill" recently signed by Trump has been publicly criticized by Musk, who claims that the bill will exacerbate the U.S. debt crisis, and threatened to fund primary challengers to any congressional members who support the bill. Previously, Musk had pushed for a $190 billion reduction in government spending through the DOGE department, but analysis by a third-party nonprofit organization suggests that his actions may have also led to a loss of $135 billion for taxpayers. Trump, not to be outdone, publicly warned Musk that opposing his agenda would come at a personal cost. He posted on his social media platform Truth Social, implying that Musk might have to shut down his company and return to South Africa without government subsidies, even mentioning that "Doge might be used against Musk." Trump also told the media that DOGE could be the "monster that must go back to devour Musk." This renewed "Trump&Musk" feud highlights the dramatic shift in their relationship from cooperation to opposition, providing a direct catalyst for the establishment of the "American Party."