President Trump said Wednesday that he is considering returning 20% of his savings directly to taxpayers from Elon Musk’s government efficiency initiative.
“We consider a new concept of giving American citizens 20% savings and 20% paying off their debt,” Trump said in a speech from Miami Beach that Saudi Arabia’s Sovereign Wealth Fund provided funds. He said in a speech by a nonprofit organization.
“The numbers are incredibly Elon, hundreds of billions of people, and we’re thinking of giving 20% to American citizens.”
After Musk tweeted Tuesday, Trump raised a potential refund.
It’s not exactly clear how much Doge has saved so far, but Musk has flapped up a team of 100 people through the federal bureaucracy, shutting down several agencies, firing massive numbers of other employees, and canceling contracts To do this, the annual cost reduction target is the annual $1 trillion target. It is considered wasteful.
The Mask initiative has halted operations at USID foreign aid agencies for $50 billion a year, launched a process of firing most of its 10,000 employees, and began demolishing 1,700 consumer financial protection agencies . It will be in Limbo someday.
On Friday, Doge discovered $1.9 billion in $19 billion in housing and urban development funds “misplaced” and $373 million education sector grants for diversity, equity and inclusion (DEI) training sessions He said he had cancelled the money.
And last week, the initiative scrapped a $900 million education sector grant to track academic progress.
Musk, CEO of SpaceX and Tesla and owner of X, says he plans to lead the financial overhaul for about four months.
Doge’s dividend advocate Fishback claims that over two years, $2 trillion in savings will reach around $25,000 per taxpayer. The proposed 20% dividend would be $5,000 per taxpayer.
Musk tweeted Wednesday that he had not approved a certain amount for dividends.
“The amount… is clearly proportional to the amount of savings Doge actually achieves,” he writes.
“More savings means greater tax cuts! But our top priority is still reducing shortages, stopping inflation and lowering interest rates for people.”
