Trump says Musk, Ramaswamy to lead Department of Government Efficiency

Investing.comNov 13, 2024 1:48 AM

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Investing.com-- President-elect Donald Trump said on Tuesday evening that Elon Musk and Vivek Ramaswamy will lead a department aimed at streamlining government agencies and reducing bureaucracy.

Trump said the two will lead the Department of Government Efficiency (DOGE), calling the agency “potentially, ‘the Manhattan Project’ of our time.” The agency will “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” the President-elect said in a statement.

Trump said the agency will work from outside the Government and partner with the White House to enact structural reforms across the government, and “create an entrepreneurial approach to government.”

Trump had touted increased government efficiency as part of his campaign promises, vowing to phase out what he sees as unnecessary regulation while also downsizing several agencies to reduce government spending.

Trump said the DOGE will conclude its work by “no later than July 4, 2026.”

Musk has been a major supporter of Trump in recent months, making several appearances at his rallies, while Ramaswamy, initially a presidential candidate, had dropped his campaign and endorsed Trump earlier this year.

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