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.

"The America Party is formed to give you back your freedom," Musk said, days after Trump debated deporting him.

American history is littered with third-party bids that flared brightly only to fizzle out, he explained. George Wallace carried five Southern states in 1968 and Ross Perot grabbed nearly 19% of the popular vote in 1992 — yet neither cracked the two-party hold on the presidency.