President Trump signs ‘big, beautiful bill’ into law
President Trump signed the ‘large, lovely invoice’ into regulation throughout the Army Household Picnic on the White Home on the Fourth of July on the White Home. Forward of signing the laws, he delivered remarks alongside First Girl Melania Trump.
Elon Musk stated Saturday that he was able to launch a brand new political get together after President Donald Trump signed the “large lovely” invoice into regulation.
Right here’s what to learn about Musk’s so-called new “America Occasion”:
Elon Musk political get together
Musk calls for new party, slams Trump’s megabill
Because the Senate prepares to vote on President Donald Trump’s tax and price range invoice, Elon Musk continued to specific his disapproval of the “Huge, Lovely Invoice.” “It’s apparent with the insane spending of this invoice, which will increase the debt ceiling by a file FIVE TRILLION DOLLARS that we stay in a one-party nation – the PORKY PIG PARTY!! Time for a brand new political get together that really cares in regards to the individuals,” shared Musk on X.
Huge image view:
On Saturday, Musk introduced on X, the social media platform he owns, the formation of a brand new political get together.
The backstory:
The announcement adopted a July 4 ballot, the place Musk requested whether or not voters needed independence from what he referred to as the “two-party (some would say uniparty) system.”
Over 1.2 million votes have been forged, with 65.4% saying “sure.”
What they’re saying:
“By an element of two to 1, you need a new political get together and also you shall have it,” Musk posted Saturday. “In terms of bankrupting our nation with waste & graft, we stay in a one-party system, not a democracy. Right now, the America Occasion is shaped to offer you again your freedom,” he tweeted.
The ‘America Occasion’
Notable Elon Musk business ventures
Here is a glance again at among the notable enterprise ventures by Elon Musk, who has shortly risen within the ranks of the wealthiest males on the planet.
Musk’s plan:
Musk tweeted that The America Occasion would goal just a few key seats in Congress, with the purpose of conserving each the Republican and Democratic events from reaching a majority in Congress.
What they’re saying:
“One strategy to execute on this might be to laser-focus on simply 2 or 3 Senate seats and eight to 10 Home districts. Given the razor-thin legislative margins, that may be sufficient to function the deciding vote on contentious legal guidelines, guaranteeing that they serve the true will of the individuals,” he tweeted.
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Elon Musk and Trump fallout
FILE – This mix of images created on June 5, 2025 reveals US President Donald Trump within the Oval Workplace of the White Home, in Washington, DC, on Could 5, 2025 and Elon Musk within the Oval Workplace of the White Home in Washington, DC, on Could 30, 202
Huge image view:
Trump and Musk have been in an alliance earlier this 12 months, with Trump choosing Musk to steer the Division of Authorities Effectivity, or DOGE, to assist reduce federal spending. Earlier than that, Musk spent at the very least $250 million supporting Trump within the 2024 presidential marketing campaign as the principle contributor to America PAC
However the relationship came to a head in recent weeks when Musk began talking out towards Trump’s large invoice of tax breaks and spending cuts, and of those that have voted in favor of it.
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What they’re saying:
Musk stated the laws would kill jobs and bathroom down industries, and that he would begin a brand new political get together if the invoice handed.
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Trump’s large lovely invoice
Economic impacts of the “Big, Beautiful Bill”
President Donald Trump on Friday signed the tax and spending reduce invoice Republicans muscled by means of Congress this week, turning it into regulation by his personal self-imposed Fourth of July deadline. Christopher Hodge, Head Economist for the U.S. at Natixis CIB Americas, joins LiveNOW from FOX to debate the financial impacts of the “Huge, Lovely Invoice.”
In the meantime:
Trump signed his invoice into regulation on the Fourth of July throughout a picnic on the White Home. The invoice handed narrowly by means of Congress, with Vice President Vance breaking a Senate tie.
The opposite aspect:
Democrats condemned the regulation, calling it a menace to well being care, meals support, and the federal deficit.
READ MORE: Trump signs ‘big, beautiful’ bill into law at White House July 4th picnic
The Supply: Data on this article was taken from social media posts made July 4 and 5, 2025, by Elon Musk’s public X account. Background data was taken from earlier FOX Tv Station reportings. This story was reported from Detroit.
