President Trump said Elon Musk's new third party is "good for me" but maybe not for other Republicans during a press conference.

Musk said he wants to form the America Party. A third party has never won the presidency, but they have influenced elections, experts say — mostly as spoilers.

Musk, who has been floating the idea of creating a third political party for weeks in the wake of his split with the president, reignited the push over the weekend after the passage of Trump's sweeping tax cut and spending bill -- which Musk railed against over its estimated impact adding trillions to the national debt.