Musk framed the July 4 timing as symbolic, asking whether Americans desired “independence from the two-party (some would say uniparty) system.”

“By a factor of 2 to 1, you want a new political party and you shall have it!” Musk stated, criticizing what he called a “one-party system” bankrupting the country through “waste & graft.”

The party plans to target two to three Senate seats and eight to ten House districts in 2026 – a strategy Musk believes could shift control in a narrowly divided Congress. Election law experts immediately noted significant ballot-access hurdles, including California’s requirement of 75,000 registered members or 1.1 million signatures.

Political analysts interpreted the move as leverage against lawmakers rather than a sustainable third-party effort. It follows President Donald Trump’s signing of the “One Big Beautiful Bill,” which reduced electric vehicle subsidies benefiting Musk’s Tesla.

Musk previously threatened to fund challengers against supporters of the bill, while Trump hinted at reviewing subsidies for Musk-linked ventures. Most strategists view the announcement as a high-stakes bargaining tactic amid policy disputes.