Newsweek analyzed Elon Musk's public statements to decipher what an America Party would stand for and who could get involved.

Musk would need to overcome many hurdles to establish a third party. Similar efforts, including the late billionaire Ross Perot’s, haven’t lasted.

Billionaire Elon Musk said on Monday that he would form a new political party in the United States if a Republican-leaning Congress passes President Donald Trump’s “One Big Beautiful Bill”, which proposes tax breaks and funding cuts for healthcare and food programmes.