Overview

• On July 5, Musk announced the America Party on X, aiming to win 2–3 Senate seats and 8–10 House districts to influence key votes.
• The party filed for national recognition with the Federal Election Commission on July 6, triggering strict contribution caps for donors.
• Legal experts warn the movement must overcome complex state ballot-access requirements, including high signature thresholds and litigation risks.
• President Trump and Steve Bannon publicly derided the new third-party bid as disorderly and warned it could sow confusion in the two-party system.
• Tesla shares slid roughly 7% in premarket trading as investors and board members voiced concern that Musk’s political venture could distract him from his companies.