"I think it'll help us," Trump said about Elon Musk's "America Party." He added that "third parties have always been good for me."

Musk described his new party on his platform X as tech-centric, budget-conscious, pro-energy and centrist, with the goal of drawing both disaffected Democrats and Republicans. Musk has criticized the tax-cut bill, which is forecast to add about $3.4 trillion to the United States' debt.