Trump plans to appoint Musk to lead government audit commission

During a speech at the Economic Club of New York, Donald Trump, the 2024 U.S. presidential candidate, announced plans to appoint Elon Musk to head a new government efficiency commission if he is elected. 

The commission's purpose would be to conduct a comprehensive audit of the federal government to eliminate fraud and unnecessary spending, potentially saving trillions of dollars. 

Trump outlined his vision for the commission, stating, “I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms. 

We need to do it.” 

He highlighted that fraud and improper payments had cost U.S. taxpayers "hundreds of billions of dollars" in 2022. 

The commission’s first task would be to create an action plan to eliminate such waste within six months. 

Elon Musk, CEO of Tesla and X (formerly Twitter), expressed support for Trump's proposal, tweeting, “This would unlock tremendous prosperity for America.” 

Trump mentioned Musk's willingness to lead the commission, jokingly adding that despite running several companies, including Tesla, SpaceX, Neuralink, and the Boring Company, Musk would still be a good fit. 

“If he has the time, he’s a good one to do it,” Trump quipped. 

Trump also promised to reduce government regulations, stating that his administration would cut at least ten old regulations for every new one enacted if reelected. 

He emphasised a forward-looking approach, saying, “Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and Bitcoin.” 

Trump’s stance on cryptocurrency has evolved over the years, reflecting his increasing openness to digital assets as part of his economic strategy for the nation.