Elon Musk said he’s carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing on social media that he would form the America Party in response to the president’s sweeping tax cuts law.

"I think it's ridiculous to start a third party," Trump told reporters before boarding Air Force One in Morristown, New Jersey. "Starting a third party just adds to confusion... He can have fun with it,