United States President Donald Trump has suggested using some of the savings from tech billionaire Elon Musk’s cost-cutting initiative to distribute cash to American citizens and reduce government debt.
Speaking at an investment summit hosted by Saudi Arabia’s sovereign wealth fund in Miami Beach, Florida, on Wednesday, Trump stated that he was considering allocating 20 percent of the savings to the public and another 20 percent to pay off the federal government’s $36 trillion debt.
“The numbers are incredible, Elon. So many billions of dollars … hundreds of billions,” Trump remarked at the Future Investment Initiative (FII) Priority Summit, referring to savings identified by Musk’s Department of Government Efficiency (DOGE).
“We’re thinking about giving 20 percent back to American citizens and using 20 percent to pay off debt.”
Trump’s proposal came a day after DOGE adviser and Azoria investment firm CEO James Fishback suggested introducing a “DOGE dividend” funded through the cost-cutting initiative.
In a four-page memo posted on X on Tuesday, Fishback stated that if Musk’s task force manages to save $2 trillion by July 2026, every tax-paying household could receive a $5,000 check.
