Billionaire Elon Musk on Tuesday stepped up his opposition to US President Donald Trump’s so-called "Big Beautiful Bill," pledging to launch a new political party if the controversial omnibus bill is approved by Congress.

“It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!,” Musk wrote on X.

“Time for a new political party that actually cares about the people,” he added.

Musk vowed that if the bill passes, “the America Party” will be formed the next day, adding that the US needs an alternative to the Republicans and Democrats “so that the people actually have a VOICE.”

The tech mogul also said in a separate post that those who campaigned on cutting spending but supported the bill should “hang their heads in shame” and warned they will lose campaign primaries next year.

The relationship between Trump and Musk, once marked by collaboration and mutual support, has deteriorated into a highly public and acrimonious feud since Musk started criticizing the bill in late May.

Last month, Musk proposed launching a new political party, asking his 220 million followers on X if it’s “time to create a new political party in America that actually represents the 80% in the middle."

Musk later backed a supporter’s suggestion to name the new party the “America Party,” a title similar to America PAC (Political Action Committee) he launched last year, which spent $239 million supporting Trump and other Republicans in the 2024 elections.