"The America Party is formed to give you back your freedom," Musk said, days after Trump debated deporting him.

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 said he's carrying out his threat to form a new political party after his fissure with President Trump, announcing on social media that he would form the America Party in response to the president's sweeping new law.