"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

Elon Musk renewed his calls Monday for a new political party as he lodged sharp criticism against President Trump’s megabill as the Senate seeks to move toward a final vote on the reconciliation package.

Musk said he wants to form the America Party. A third party has never won the presidency, but they have influenced elections, experts say — mostly as spoilers.