On the heels of the Fourth of July -- and amid his feud with President Donald Trump and congressional Republicans over the president's tax policy bill -- tech billionaire Elon Musk announced plans for a brand new political party, dubbed "America Party," to represent what he called "the 80% in the middle."

"I think it'll help us," Trump said about Elon Musk's "America Party." He added that "third parties have always been good for me."

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