Billionaire Elon Musk is floating a new political party dubbed the "America Party" — but the idea could face major hurdles.

Elon Musk's attempt to launch the "America Party" faces significant hurdles, with polls indicating widespread public opposition and low favorability ratings. Surveys reveal that a vast majority of Americans are against Musk forming a third party to challenge the Democrats and Republicans.

New polling this week indicates that there is a strong desire among U.S. voters for a third political party, to counter both the Republican and Democratic parties. However, when asked if they’d join a party created by billionaire Elon Musk, voters overwhelmingly rejected the idea.

Can a third political party succeed in the US? Presidential elections are largely seen as a contest between the Democratic and Republican parties.

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

Elon Musk has said that he’s formed a new political party, but it’s unclear what steps — if any — he’s taken to do so, or how the effort might affect upcoming elections. Musk has not yet released any additional information. Spokespeople for Musk and his political action committee, America PAC, didn’t immediately comment Monday.