Treasury Secretary Criticizes Elon Musk’s New Political Party

Scott Bessent, the Treasury Secretary, recently dismissed Elon Musk’s announcement of forming the America Party, suggesting that the billionaire lacks enough popularity to succeed with such an endeavor.

Musk revealed plans to launch the new political party after disagreements with President Trump and Republicans over the recently passed One Big Beautiful Bill Act. The tech mogul indicated he would focus his efforts on a select few competitive elections.

“While the principles of DOGE were very popular, polling data shows Elon isn’t as popular,” Bessent told CNN’s “State of the Union.”

In April, Musk and Bessent had a heated exchange following a meeting with Trump, with reports claiming Musk body-checked Bessent—though this has not been confirmed publicly.

Despite past tensions, Bessent previously downplayed any seriousness to their disagreements, describing himself as “ninja-like,” while suggesting Musk sees himself as more of a Viking. Bessent also remarked that the boards of Musk’s companies likely prefer him to continue leading them.

Trump has kept a reserved stance but has occasionally hinted at cutting subsidies to Musk’s businesses and even suggested potential immigration actions against him. Musk’s core issue with the recent bill, which adds nearly $4 trillion to national debt over a decade, is that it counteracts efforts to reduce deficits.

While Musk publicly criticized the bill for its fiscal impact and the reduction of green energy subsidies (which he also publicly opposed), he announced the America Party after polling support online and filing with the Federal Election Commission. Musk described his strategy as a concentrated force to break the “uniparty system,” targeting pivotal congressional races to shift power in favor of his vision.