Summary
Elon Musk has suggested the idea of creating a new political party to rival Democrats and Republicans in the U.S., especially after a recent budget bill led to differences between him and former President Donald Trump. The bill, which has passed Congress, includes tax cuts and spending that some say will raise the national deficit and reduce funding for social services.
Key Facts
- Elon Musk proposed the creation of a new political party via social media.
- This proposal follows disagreement with Trump's new budget bill.
- The "One Big Beautiful Bill," supported by Trump, includes permanent tax cuts from 2017.
- The bill passed Congress, raising the debt ceiling by $5 trillion.
- It is expected to add $3.3 trillion to the national deficit.
- The bill reduces funding for Medicaid and food assistance programs.
- Fiscal conservatives and some Republicans opposed the increase in debt.
- Senator Rand Paul was among a few Republicans who voted against the bill.
