In a dramatic rupture with President Donald Trump, Elon Musk has announced the formation of a new political party — the “America Party” — accusing Trump of pushing a tax-and-spend bill that will “bankrupt the country.”⁣ ⁣ Musk’s move comes just one day after he polled his followers on X about starting a new party — and hours after Trump signed his “big, beautiful” tax-cut and spending bill into law. Musk, once a major backer of Trump’s re-election and head of the Department of Government Efficiency, called the $2.5 trillion deficit “insane.”⁣ ⁣ “By a factor of 2 to 1, you want a new political party — and you shall have it,” Musk wrote.⁣ ⁣ The fallout was swift: Tesla investor confidence wobbled. Azoria Partners postponed the launch of a Tesla ETF, and its CEO called on Tesla’s board to clarify Musk’s political plans.⁣ ⁣ Trump hasn’t responded yet, but earlier this week he threatened to cut federal subsidies for Musk’s companies — SpaceX and Tesla included.⁣ While Musk has deep pockets ...