On Thursday, Republican presidential candidate Donald Trump (also known as Donald J. Trump) expressed his plan to establish a Government Efficiency Commission led by his supporter, billionaire Elon Musk, if he wins the November election. The announcement was made during a speech at the Economic Club of New York’s signature luncheon in New York City.
Trump outlined his vision for the economy and engaged in a Q&A session during the event. The Economic Club of New York provided real-time updates on some of Trump’s key points, quoting him as saying, “I will establish a Government Efficiency Commission based on the suggestion by Elon Musk (@Elon Musk), which will conduct comprehensive financial and performance audits of the entire government and propose significant reform.”
According to Reuters, discussions about the Efficiency Commission had been ongoing between Trump and his aides for several weeks prior to the public announcement.
This marks the first time Trump publicly stated his intention to appoint Musk to head the proposed organization. While Trump did not delve into specifics on how the commission would operate, he mentioned that within six months of its establishment, a plan would be devised to eliminate “fraud and improper payments.”
Musk has expressed willingness to provide consultation to the government. Earlier this month, he hinted at his support for a Government Efficiency Commission in an interview with Trump on his social media platform, saying, “I think it would be great to establish a Government Efficiency Commission, and I would be happy to help such a commission.”
The Tesla CEO actively responded to Trump’s remarks on the Efficiency Commission by stating on social media that he looks forward to serving the United States if given the opportunity, emphasizing that he does not seek compensation, titles, or recognition. Musk stressed the urgency of such an initiative.
During his speech, Trump revealed plans for his new term, highlighting his belief that “communism is in the past, freedom is the future.”
He pledged to swiftly combat inflation; reduce the corporate tax rate for domestic production companies from 21% to 15%, limited to companies producing within the country; establish “low tax zones” on federal land to encourage construction companies to build new homes there, aiming to lower housing costs; advocate for the creation of a sovereign wealth fund, partly allocated to fund large infrastructure projects.
Trump announced his intention to revoke unused funds related to the 2022 Inflation Reduction Act (IRA), one of President Biden’s prominent legislative achievements.
Furthermore, Trump mentioned his plan to issue an executive order declaring a “national emergency” to facilitate smoother approval processes for new energy projects to overcome bureaucratic obstacles.