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Musk aims to slash tax spending by $2 trillion amidst plans for federal audits and administrative reform.
Key Takeaways
Donald Trump plans to nominate Elon Musk and Vivek Ramaswamy for a new Department of Government Efficiency. The department aims to save $2 trillion in tax spending by auditing and reforming federal operations. <?xml encoding="UTF-8"?>President-elect Donald Trump plans to nominate tech entrepreneur Elon Musk and biotech executive Vivek Ramaswamy to lead a new Department of Government Efficiency following his presidential victory.
Musk, CEO of Tesla and SpaceX, would head a government efficiency commission tasked with auditing federal operations and recommending reforms. Speaking at a Trump campaign rally in New York, Musk outlined plans to save $2 trillion in tax spending through the new department, stating that “all government spending is a form of taxation.”
Ramaswamy, who has advised Trump’s campaign, would join the initiative to downsize federal operations. He advocates for what he calls a “band of small-government revolutionaries” to reduce the federal government’s scope.
The proposed department draws inspiration from previous administrations’ efficiency initiatives, including the Grace Commission under President Ronald Reagan and the National Performance Review during President Bill Clinton’s tenure.
The new department aims to cut federal programs and eliminate improper payments through administrative changes rather than legislative action.
Musk will lead a comprehensive financial and performance audit of federal government operations based on his technical and business expertise. A major goal of the initiative is to streamline operations without requiring large-scale legislative approval.
This is a developing story.
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