President-elect Donald Trump has enlisted Elon Musk, CEO of Tesla and SpaceX, to lead a new government efficiency panel aiming to reduce U.S. federal spending by up to $2 trillion. The panel, with Musk and entrepreneur Vivek Ramaswamy at the helm, is tasked with identifying inefficiencies and excessive costs across government agencies. Trump and Musk have highlighted the need to cut regulatory and operational spending, and Musk has proposed allowing public feedback on potential cuts. This initiative echoes past efforts, including Reagan’s Grace Commission, though many such recommendations have previously faced challenges in Congress. Musk’s cost-cutting experience at companies like SpaceX will be leveraged, though the panel’s recommendations are ultimately advisory.
