Overview

• Musk officially formed the America Party on July 5, aiming to win two to three Senate seats and eight to ten House districts in the 2026 midterms to hold decisive votes.
• He pledges that the party will caucus independently and work with both Republicans and Democrats to advance legislation he says restores American freedoms.
• Tesla shares fell about 7 percent on July 7 after investors reacted to Musk’s return to high-profile political activism.
• President Trump denounced the new party as “ridiculous,” saying Musk has gone “off the rails” and warning that third parties typically fail under the U.S. system.
• The initiative faces steep structural hurdles including stringent ballot-access laws and winner-take-all elections that favor the two major parties.