If Donald Trump proceeds with his proposed plans, US taxpayers might be in for a substantial financial benefit.
The creation of the Department of Government Efficiency (DOGE) was initiated by the Trump administration just last month.
In collaboration with SpaceX’s Elon Musk, this organization aims to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.” It’s evident that they have made significant progress toward these goals.
Since its inception, DOGE has reportedly managed to cut $55 billion from government expenses.
According to their website, this significant amount was saved through “a combination of fraud detection/deletion, contract/lease cancellations, contract/lease renegotiations, asset sales, grant cancellations, workforce reductions, programmatic changes, and regulatory savings.”
Recently, DOGE announced on Twitter that it “terminated 18 grants for $226mm to Comprehensive Centers,” contributing to their impressive $55 billion savings.
Elon Musk reportedly aims to achieve $1 trillion in annual savings for the nation through cost-cutting measures.
On February 19, President Trump expressed his admiration for DOGE’s achievements, calling the savings “incredible.”
“The numbers are incredible, Elon, so many billions — hundreds of billions,” he commented, though he did not specify figures to support the DOGE website’s claim of $55 billion in savings.
Trump hinted at potential uses for the savings: “There’s even under consideration a new concept where we give 20 percent of the DOGE savings to American citizens and 20 percent goes to paying down debt.”
Elon Musk has reportedly suggested providing $5,000 to every American taxpayer.
This initiative, referred to as the ‘DOGE Dividend,’ was initially suggested by James Fishback, CEO of investment firm Azoria, who has been consulting for DOGE, according to Forbes.
Fishback tweeted the proposal earlier this week, stating: “American taxpayers deserve a ‘Doge Dividend’: 20 per cent of the money that Doge saves should be sent back to hard-working Americans as a tax refund check.
“It was their money in the first place! At $2 trillion in Doge savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt.”
Musk responded to the idea by indicating he would consult with the president.
As for the timeline, the proposal shared on social media suggests: “79 million American households will receive a $5,000 check next summer because of President Trump’s bold leadership.”