Musk opposes the "Big and Beautiful" bill, claims he will establish a new political party.

Gate News bot message, Musk announced via social media that if the "Big and Beautiful" spending bill is passed, he will begin forming a new political party in the United States the next day. He emphasized: "Our country needs an alternative to the single political party of the Democratic Republican Party so that the people truly have a voice."

According to Jinshi reports, the U.S. Senate held a procedural vote on the bill, advancing Trump's tax reform plan with a result of 51 votes in favor and 49 votes against. The bill spans over 1,000 pages, with core content including the extension of corporate and individual tax cuts implemented during President Trump's term in 2017, new tax deductions for tips and auto loans, as well as an increase in the defense budget and funding to combat illegal immigration.