Washington, D.C. – Tech billionaire Elon Musk called for the formation of a new political party on Monday while leveling sharp criticism against a massive spending package championed by President Donald Trump, decrying what he termed the bill’s “insane spending” and its record-setting five trillion dollar increase to the national debt ceiling.
In a series of posts on the social media platform X, which he owns, Musk argued that the scale of the spending demonstrates a lack of fiscal discipline in Washington. “It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country — the PORKY PIG PARTY!!” Musk wrote. “Time for a new political party that actually cares about the people.”
The public criticism marks a notable turn for the entrepreneur, who until last month served in the administration as the head of President Trump’s Department of Government Efficiency (DOGE), a role created to spearhead significant cuts and reforms across the federal government. Musk is now contending that the ambitious tax and spending bill, which he has labeled “utterly insane” and “political suicide” for the Republican party, directly undermines his previous efforts to control government spending. This follows a public falling out between Musk and President Trump earlier this month.
Musk has previously suggested creating a new political faction to appeal to more moderate voters, floating the name “The America Party” with the goal to “represent the 80% in the middle.”
On Monday, the billionaire also directed his criticism at specific members of Congress, questioning the fiscal conservative credentials of the House Freedom Caucus. Tagging Chairman Andy Harris (R-Md.) and Rep. Chip Roy (R-Texas), Musk wrote, “How can you call yourself the Freedom Caucus if you vote for a DEBT SLAVERY bill with the biggest debt ceiling increase in history?”
The legislation, a key priority for President Trump, is currently navigating a complex path through Congress. The Senate’s version of the bill is projected to increase the federal deficit by nearly $3.3 trillion between 2025 and 2034, according to an analysis by the nonpartisan Congressional Budget Office. This figure is approximately $1 trillion more than the version that previously passed the House of Representatives.
The White House has emphasized a desire to see the legislation passed and sent to President Trump’s desk for his signature by a Friday deadline, while Senate Republicans were engaged in a lengthy series of amendment votes on Monday to finalize the package.
