E lon Musk suggested a third political party, which he’s floated as the “America Party,” will hold significant sway in the Senate and House under slim Republican margins, as he aspires to form a competing party after breaking with the GOP over President Donald Trump’s signature policy bill.

Former Trump aide Steve Bannon tore into Elon Musk on Friday after the billionaire backed the creation of a new political party. Earlier this week, Musk announced he would help launch the “America Party” as an alternative to Republicans and Democrats if Congress passed President Donald Trump’s One Big Beautiful Bill Act.