The billionaire and former Trump adviser suggested that if the domestic policy bill passed, he would swiftly form a new “America Party” and back primary challenges to Republicans.

Billionaire Elon Musk reiterated his criticism of U.S. President Donald Trump's spending legislation on Monday, arguing that it underscores the need for a new political party.

Musk has previously made his opinions about Trump's "big, beautiful bill" clear. In late May, just a few days before he officially left his post in the federal government, he told "CBS News Sunday Morning" he was "disappointed" with the bill's price tag.