(MENAFN) Billionaire Elon Musk ramped up his opposition to US President Donald Trump’s controversial "Big Beautiful Bill" on Tuesday, warning that he would form a new political party if Congress approves the sweeping legislation.

“It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!,” Musk stated on X. “Time for a new political party that actually cares about the people,” he added.

Musk’s strong words came after the bill sparked heated debates over its massive impact on the national debt. He emphasized that if the bill passes, he will launch “the America Party” the very next day, declaring that the US urgently needs an alternative to the traditional Republican and Democratic parties “so that the people actually have a VOICE.”

The tech magnate also took aim at lawmakers who campaigned on fiscal responsibility but later supported the bill. He said in another post that these politicians should "hang their heads in shame," warning that they risk losing primaries in the coming election cycle.

Once allies, Musk and Trump’s relationship has soured into a public feud since Musk began openly criticizing the bill in late May. The two had previously shared mutual support, but tensions are now high as Musk has increasingly distanced himself from Trump.

In June, Musk polled his 220 million followers on X, asking if it was “time to create a new political party in America that actually represents the 80% in the middle.” He later endorsed a supporter’s idea to call the new party the “America Party,” a name strikingly similar to the America PAC (Political Action Committee) he founded last year. This committee spent $239 million supporting Trump and other Republicans in the 2024 elections.

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