Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency tasked to ¡°dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,¡± U.S. President-elect Donald Trump announced Tuesday.
On the campaign trail, Trump said the government efficiency effort would develop a plan to eliminate ¡°fraud and improper payments,¡± conducting a ¡°complete financial and performance audit¡± of the federal government. On Tuesday, Trump said the panel would partner with the White House¡¯s Office of Management and Budget and said their work will conclude no later than July 4, 2026 ¡ª the nation¡¯s 250th anniversary.
The structure may allow Musk to avoid resigning from his companies ¡ª including Tesla, the world¡¯s largest electric vehicle manufacturer, and SpaceX, which dominates the worldwide rocket launch market ¡ª and navigate federal conflict-of-interest rules that could have mandated divestiture.
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