Donald Trump promises to create US government efficiency commission headed by Elon Musk

Former US President Donald Trump has vowed that if elected, he/she will form a new task force aimed at conducting a comprehensive financial and performance audit of the entire federal government and making recommendations for sweeping reforms.

he/she said Tesla CEO Elon Musk has agreed to lead that task force, as quoted in a video posted by the CSPAN news network on its X platform.

Elon Musk welcomed Trump’s decision, saying it was “much needed.”

Addressing the Economic Club of New York on September 5, Trump said, “To stop this attack on low prices, I am pledging today that in my second term we will eliminate at least ten outdated regulations. For every one new regulation we introduce, we will easily be able to do so. In fact, instead of attacking the industries of the future, we will embrace them, including making the United States the world capital for crypto and bitcoin.”

“At the suggestion of Elon Musk, who has given me his/her complete and total support, he/she’s a good and smart guy. he/she knows what he/she’s doing. he/she knows what he/she’s doing. Thank you very much. I will be forming a government efficiency commission whose job will be to do a full financial and performance audit of the entire federal government and make recommendations for the drastic reforms that we need to make. It can’t go on the way we’re doing it now. And Elon, because he/she’s not too busy, has agreed to lead that task force, it’ll be interesting if he/she has the time, but he/she’s agreed,” Trump said.

he/she said the improper and fraudulent payments would cost taxpayers an estimated hundreds of billions of dollars in 2022. he/she announced the commission would create an action plan to end the payments within a few months and said it would save trillions of dollars, according to a video posted by CSPAN on X.

Trump said, “In 2022, fraud and improper payments alone will cost taxpayers hundreds of billions of dollars. As a first order of business, this commission will develop an action plan within six months to completely eliminate fraud and improper payments. That will save trillions of dollars. That’s a big deal for the same service you have now, trillions of dollars wasted and gone, and nobody knows where it went next, to reduce inactivity and reduce prices.”

he/she also promised to make Trump’s tax cuts permanent and announced that there will be no tax on tips. he/she alleged that US Vice President Kamala Harris copied his/her plan and announced no tax on tips. he/she said Harris will not go ahead with this and will stick to her plan.

Republican presidential candidate Donald Trump said, “The 5th pillar of my plan is to make the Trump tax cuts permanent. They are huge tax cuts, the biggest permanent cuts ever and even more tax cuts, and we will put no tax on tips, something she copied four weeks after I said it. She got upset and said no tax on tips. I said I just said she’s actually copying the very core of my plan. In fact, we’re going to send her a MAGA anytime next week… But we also know she doesn’t mean it. She’s going to stick to what she’s always said and put no tax on Social Security benefits.”

Pledging to save Social Security, Trump said he/she would not tax the benefits people receive under Social Security, stressing that these benefits have been eroded due to inflation.

“People on Social Security have been wiped out by inflation and now on top of that, we’re taxing their benefits. We’re not going to tax their benefits. We have so many different ways to make so much money. In this country, the possibilities are so incredible. We shouldn’t take that away from people on Social Security. We’re not going to do that. We’re going to save Social Security. That’s going to destroy Social Security,” Trump said.

The former US president said his/her administration has proven that targeted tax cuts do not increase the deficit. he/she said it reduces the deficit by growing the economy and raising revenues, as reported in a video posted on X by Cspan.

“When we did the massive tax cut, we took in taxes at a much lower rate the next year. Billions and trillions of dollars more than the previous year, think about that. So, with a much lower rate, we took in more money because people got an incentive,” he/she said.

he/she pledged to cut the corporate tax rate from 21 percent to 15 percent for companies that make products in the United States.

he/she said, “Today, corporate tax revenues are 31 percent higher than they were when my tax law was signed with all the cuts that were in place. To further support the revival of American manufacturing, my plan calls for an expanded R&D tax credit, 100 percent bonus depreciation, expensing for manufacturing investments, and a reduction in the corporate tax rate from 21 percent to 15 percent for companies that make their products only in the U.S.”

It is very much needed https://t.co/H9AKYbDssZ

— Elon Musk (@elonmusk) September 5, 2024

Responding to a video by Trump announcing his/her plans, Musk posted on X: “This is much needed.”