More than a month after their initial social media bluster, Elon Musk has announced the formation of a new U.S. political party in response to U.S. President Donald Trump signing his sweeping tax and spending bill into law.

Elon Musk has announced the formation of a new political party, "The American Party." What happened to former Orlando attorney John Morgan's new party?

Elon Musk said he's launching a new political party, following through with his threat to challenge the two-party system after President Trump signed the "big, beautiful bill."