US renews sanctions waiver for purchase of Russian oil, Lok Sabha adjourned sine die, Budget session concludes. IMF raises India growth forecast to 6.5% for 2026 and 2027, Nirav Modi case to be 'confidential' as European Court of Human Rights grants anonymity,

Musk launces 'The America Party' in latest snub to Trump

Elon Musk has declared the formation of a new political party amid his ongoing feud with President Donald Trump over the "Big Beautiful Bill." The Tesla CEO had said on his social media platform that one way the new party could work is to focus on winning just a handful of Senate seats and House districts that could serve as the "deciding vote" on "contentious laws," given the "razor-thin legislative margins" in Congress.Musk officially filed paperwork with the Federal Election Commission Sunday to establish his so-called “America Party” after he pledged to hit back against Republicans.

In response, Trump said on his Truth Social platform on Sunday that Musk had gone "completely off the rails." "He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States," the president wrote at the start of a lengthy post. Trump went on to imply that Musk was angry because the spending bill eliminated incentives to buy electric cars.

Musk, who was a staunch supporter of Trump's 2024 reelection bid, has been publicly critical of the president's "Big Beautiful Bill," a sweeping domestic policy bill that includes extensive tax cuts and could add more than $3 trillion to the national debt, according to the Congressional Budget Office.


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