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

Republicans have expressed concern that Musk's feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.

"I believe that the boards of directors at his various companies wanted him to come back and run those companies, which he is better at than anyone," Bessent said of Musk's depart