Recently, Musk and President Trump have disagreed over the "Big and Beautiful" tax and expenditure bill. On June 30, Musk strongly criticized Trump's promotion of the so-called "Big and Beautiful" tax and expenditure bill and stated that if the bill passes, a "American Party" would be established the next day. On July 4, local time, President Trump signed the "Big and Beautiful" tax and expenditure bill into law, making it effective. Just a few hours before the bill was signed into law, Musk once again posted on Social Media about voting for the establishment of a new party called the "American Party". Among around 1.249 million online votes received, 65.4% of netizens supported the establishment of a new party.

It is understood that Musk first proposed this idea on June 5.

Dissatisfied with the "Big and Beautiful" bill, Musk brought up the establishment of a new American political party again on Independence Day.

According to CCTV news reports, just a few hours before President Trump signed the "Big and Beautiful" bill into law on July 4, Trump's former ally and entrepreneur Elon Musk initiated a vote on Social Media regarding the establishment of a new American political party.

On Independence Day, it's exactly the right time to ask everyone: do you want to break free from the two-party system (some might say it's the "same party")? Should we establish an "American Party"?

On July 4, local time, Musk once again posted on Social Media about voting for the establishment of a new party called the "American Party". As of now, over 1.08 million accounts have participated in the voting, with 64.4% choosing "yes" and 35.6% choosing "no".

It is understood that Musk first proposed this idea on June 5. He initiated a vote on Social Media asking 0.22 billion users whether they agree that "it's time to create a new political party in America that truly represents 80% of moderates." The voting results showed that over 80% of the voters chose "yes" at that time.

On July 4 local time, U.S. President Trump signed the "Great and Beautiful" tax and expenditure bill into law. Previously, the bill had been passed by the U.S. House of Representatives with a vote of 218 in favor and 214 against.

There are concerns in the United States that the bill will further exacerbate the fiscal deficit and debt risks. In response to the "Great and Beautiful" tax and expenditure bill strongly promoted by Trump, Musk has repeatedly criticized it in Posts. On June 30 local time, Musk sent out dozens of posts, stating that those legislators who support the bill should feel ashamed, and he indicated that if the bill passes, "The American Party" would be formed the next day.

Trump: May consider "deporting" Musk.

In response to billionaire Elon Musk's recent series of posts attacking the "Great and Beautiful" tax and expenditure bill, U.S. President Trump stated on the 1st local time that he may consider "deporting Musk."

Trump said the U.S. government's efficiency department should investigate the government subsidies that Musk receives for the operation of Tesla and SpaceX.

When asked if he would consider deporting Musk, Trump told reporters at the White House, "I don't know. I have to think about it."

"We might let the efficiency department keep an eye on Elon (Musk). You know what the efficiency department is, right? It's like a monster that might turn around and eat Musk."

Trump stated that Musk attacks the "Great and Beautiful" bill because it eliminates subsidies for New energy Fund vehicles. According to previous U.S. media reports, this would have a significant impact on Tesla.

He is dissatisfied with many things, but you should know that he may have lost much more than this; I can tell you right now. Elon may have lost far more than this.

What is the "Big Beautiful Bill"?

The "Big Beautiful Bill" is a tax and spending bill submitted by Trump.

According to American media reports, the "Big Beautiful Bill" contains several provisions, spans over 1,000 pages, and mainly focuses on tax cuts and spending reductions. The bill will extend the corporate and personal tax cuts passed by Trump in 2017 during his first presidential term, offer new tax deductions for tips, car loans, etc., while increasing defense spending and providing more funding to combat illegal immigration.

Trump and his economic team believe that this bill will stimulate economic growth and increase tariff revenue, thus helping to alleviate the growing debt burden of the United States. According to a report from the White House Council of Economic Advisers, recalculating the overall impact of this bill and Trump's broader economic policies, federal government debt is expected to drop to 94% of GDP by 2034, during which the fiscal deficit is expected to decrease by 8.5 trillion dollars to 11.2 trillion dollars.

However, some economists warn that this bill will further expand the scale of U.S. debt. According to the latest assessment by the U.S. Congressional Budget Office, the Senate version of the bill will result in an increase of 3.3 trillion dollars in U.S. debt over ten years, which is about 800 billion dollars more than the House version. The current U.S. debt has reached 36.2 trillion dollars.

In addition, due to the bill's content involving several politically "sensitive points" in the U.S., it has triggered huge controversy domestically and faced resistance from the Democratic Party.

Musk resigned last month from the Department of Government Efficiency (DOGE) and openly expressed his dissatisfaction with the bill, calling it a "disgusting abomination." Musk stated that the bill increases the federal deficit and undermines the work DOGE has done to cut government spending. He also mentioned over the weekend that the bill "provides aid to past industries while seriously damaging future industries."

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Sources: CCTV News, Xinhua News Agency
Editor/Lee