MxM News

Quick Hit:

Elon Musk announced Saturday he is forming the “America Party,” claiming it will challenge what he calls the “one-party system” in Washington. The move follows his public split with President Trump and appears aimed at targeting Republicans who supported the president’s domestic agenda.

Key Details:

• Musk announced the America Party on X, declaring that Americans are living under a “one-party system” and need a new political alternative.
• The launch followed his criticism of Trump’s One Big Beautiful Bill.
• On Independence Day, Musk posted a poll asking if Americans wanted “independence from the two-party (some would say uniparty) system,” which he cited as support for forming the party.

By a factor of 2 to 1, you want a new political party and you shall have it!

When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.

Today, the America Party is formed to give you back your freedom. https://t.co/9K8AD04QQN

— Elon Musk (@elonmusk) July 5, 2025

Diving Deeper:

Elon Musk formally announced the launch of his new political outfit — the “America Party” — on Saturday, marking a new chapter in his increasingly public clash with Republican leadership.

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” Musk wrote on his platform, X. “Today, the America Party is formed to give you back your freedom.”

The announcement comes as tensions between Musk and President Trump have escalated. While Musk previously worked closely with the administration as head of the Department of Government Efficiency, the relationship has deteriorated in the wake of Trump’s push for the One Big Beautiful Bill, a major domestic package that Musk now openly criticizes.

In a series of recent posts, Musk vowed to help primary Republican lawmakers who backed the bill. “They will lose their primary next year if it is the last thing I do on this Earth,” he posted earlier this week.

He’s offered few specifics beyond that, other than suggesting the party will “laser-focus” on a handful of Senate and House races in 2026. So far, there’s been no indication of a formal party structure, candidate recruitment, or funding plan.

Critics were quick to compare Musk’s move to Ross Perot’s 1992 presidential bid, which many credit with splitting the conservative vote and aiding Bill Clinton’s election. “You are pulling a Ross Perot, and I don’t like it,” one user reportedly responded on X.

Meanwhile, Trump has reportedly explored options to retaliate. According to multiple reports, the president has discussed whether to revoke federal contracts connected to Musk’s companies and even floated questions about his citizenship. “We’ll have to take a look,” Trump told reporters when asked directly.

While it’s too early to tell whether the America Party will amount to more than a personal platform, the political message is clear: Musk is now openly working against Republicans he once aligned with, and doing so under his own banner.

MxM News

CBS will pay Donald Trump more than $30 million to settle a lawsuit over a 2024 60 Minutes interview with Kamala Harris. The deal also includes a new rule requiring unedited transcripts of future candidate interviews.

Key Details:

• Trump will receive $16 million immediately to cover legal costs, with remaining funds earmarked for pro-conservative messaging and future causes, including his presidential library.
• CBS agreed to release full, unedited transcripts of all future presidential candidate interviews—a policy insiders are calling the “Trump Rule.”
• Trump’s lawsuit accused CBS of deceptively editing a 60 Minutes interview with Harris in 2024 to protect her ahead of the election; the FCC later obtained the full transcript after a complaint was filed.

Tonight, on a 60 Minutes election special, Vice President Kamala Harris shares her plan to strengthen the economy by investing in small businesses and the middle class. Bill Whitaker asks how she’ll fund it and get it through Congress. https://t.co/3Kyw3hgBzr pic.twitter.com/HdAmz0Zpxa

— 60 Minutes (@60Minutes) October 7, 2024

Diving Deeper:

CBS and Paramount Global have agreed to pay President Donald Trump more than $30 million to settle a lawsuit over a 2024 60 Minutes interview with then–Vice President Kamala Harris, Fox News Digital reported Tuesday. Trump accused the network of election interference, saying CBS selectively edited Harris to shield her from backlash in the final stretch of the campaign.

The settlement includes a $16 million upfront payment to cover legal expenses and other discretionary uses, including funding for Trump’s future presidential library. Additional funds—expected to push the total package well above $30 million—will support conservative-aligned messaging such as advertisements and public service announcements.

As part of the deal, CBS also agreed to a new editorial policy mandating the public release of full, unedited transcripts of any future interviews with presidential candidates. The internal nickname for the new rule is reportedly the “Trump Rule.”

Trump initially sought $20 billion in damages, citing a Face the Nation preview that aired Harris’s rambling response to a question about Israeli Prime Minister Benjamin Netanyahu. That portion of the interview was widely mocked. A more polished answer was aired separately during a primetime 60 Minutes special, prompting allegations that CBS intentionally split Harris’s answer to minimize political fallout.

The FCC later ordered CBS to release the full transcript and raw footage after a complaint was filed. The materials confirmed that both versions came from the same response—cut in half across different broadcasts.

CBS denied wrongdoing but the fallout rocked the network. 60 Minutes executive producer Bill Owens resigned in April after losing control over editorial decisions. CBS News President Wendy McMahon also stepped down in May, saying the company’s direction no longer aligned with her own.

Several CBS veterans strongly opposed any settlement. “The unanimous view at 60 Minutes is that there should be no settlement, and no money paid, because the lawsuit is complete bulls***,” one producer told Fox News Digital. Correspondent Scott Pelley had warned that settling would be “very damaging” to the network’s reputation.

The final agreement includes no admission of guilt and no direct personal payment to Trump—but it locks in a substantial cash payout and forces a new standard for transparency in how networks handle presidential interviews.