WASHINGTON, June 30 (Reuters) - Billionaire Elon Musk on

Monday renewed his criticism of U.S. President Donald Trump's

sweeping tax-cut and spending bill, vowing to unseat lawmakers

who backed it after campaigning on limiting government spending.

After weeks of relative silence following a feud with

Trump over the legislation, Musk rejoined the debate on Saturday

as the Senate took up the package, calling it "utterly insane

and destructive" in a post on social media platform X.

On Monday, he ramped up his criticism, saying lawmakers

who had campaigned on cutting spending but backed the bill

"should hang their heads in shame!"

"And they will lose their primary next year if it is the

last thing I do on this Earth," Musk said.

The Tesla and SpaceX CEO called again for a new

political party, saying the bill's massive spending indicated

"that we live in a one-party country - the PORKY PIG PARTY!!"

"Time for a new political party that actually cares about

the people," he wrote.

Musk's criticism of the bill has caused a rift in his

relationship with Trump, marking a dramatic shift after the tech

billionaire spent nearly $300 million on Trump's re-election

campaign and led the administration's controversial Department

of Government Efficiency (DOGE), a federal cost-cutting

initiative.

Musk, the world's richest man, has argued that the

legislation would greatly increase the national debt and erase

the savings he says he has achieved through DOGE.

It remains unclear how much sway Musk has over Congress

or what effect his opinions might have on the bill's passage.

But Republicans have expressed concern that his on-again,

off-again feud with Trump could hurt their chances to protect

their majority in the 2026 midterm congressional elections.

The rift has also led to volatility for Tesla, with

shares of the company seeing wild price swings that erased

approximately $150 billion of its market value, though it has

since recovered.