South African entrepreneur Elon Musk once again shook the American political scene this week by raising the possibility of founding his own political party, an idea he had hinted at in the past without materializing it, confirming his complete break with Donald Trump and the Republican right in the United States.
In a series of posts on his social network X in recent days, Musk warned that if the current Republican bill is approved, which could increase the national debt by 3.3 trillion dollars, he will launch the so-called “America Party” the next day.
Trump’s legislative proposal, grandiosely dubbed as the “big and beautiful bill,” was barely approved by the Senate this Tuesday and now faces a challenging scenario in the House, where Republican leaders aim to vote on it before July 4th.
Why does Elon Musk want to form a new party?
According to an article from NBC News, Musk had already suggested the idea of forming a new political group in 2022, when he expressed his discontent with the bipartisanship in the United States and stated that he did not fully identify with either the Democrats or the Republicans.
However, that momentum quickly faded and since then they have become financiers of far-right groups in the United States and Europe.
The South African entrepreneur resumed the idea this week with at least eight different posts on the subject. He accused both Democrats and Republicans of lacking the will to reduce the national debt, and accused both of acting like a “PORKY PIG PARTY.” However, beyond the tentative name of the party and the focus on debt, no further details were provided about the strategy and approach that his new party would have.
The reaction of former President Donald Trump did not take long to arrive. In response to Musk’s announcement, he issued a public warning suggesting that his administration could take retaliatory actions against the businessman’s companies.
But beyond his recent controversies and disputes with his former ally Donald Trump, Elon Musk has a bigger problem if he wants to form a new party: according to a Quinnipiac University survey conducted last month among registered voters, 59% of independents have an unfavorable opinion of Musk, while only 29% view him positively.
According to statistician Nate Silver, NBC News, that negative perception has increased since Musk left his political position last month.
Is a third political party viable in the United States?
Despite having unlimited resources, business influence, and control of X, Musk would face multiple obstacles if he decides to launch a new party. Experts point out that the U.S. political system heavily favors the two traditional parties, which historically has made it difficult for competitive third forces to emerge.
The legal requirements to register a new party vary by state, but usually include collecting tens of thousands of signatures. In Texas, where Musk resides, around 81,000 would be needed. Although this goal is technically achievable with time and money, many states have recently tightened their regulations.
In the past, other efforts to create alternative parties have failed in the long term, including Theodore Roosevelt’s Progressive Party in 1912 and more recently the attempt by Ross Perot, who in 1992 garnered 19% of the popular vote with a focus on deficit reduction, but without translating into lasting electoral representation.
Musk is not the only one interested in creating a third party. Andrew Yang, former Democratic presidential candidate in 2020 and now leader of the Forward Party, has shown willingness to collaborate with the South African entrepreneur and has also criticized the current budget proposal pushed by Trump.
In addition to Democrats and Republicans, in the United States there are several minor parties, including the Libertarian Party, which has presented a presidential candidate in every election since 1972; the Green Party; the far-right Constitution Party; the Reform Party, created by Ross Perot, and the Socialist Workers Party, which has been in existence for almost 90 years.