Trump Considers Direct Payments To Americans From Cost Savings

According to Odaily, U.S. President Donald Trump announced he is contemplating distributing a portion of the savings from Elon Musk's cost-cutting initiatives directly to American citizens. Speaking at the FII Priority Summit, sponsored by Saudi Arabia's sovereign wealth fund, Trump mentioned the possibility of returning 20% to U.S. citizens and using another 20% to reduce national debt. However, he did not provide further details about the plan. Earlier this week, James Fishback, co-founder of investment firm Azoria, suggested on social media that the federal government issue rebate checks based on savings from the Department of Government Efficiency (DOGE). Musk responded to this idea on the X platform, indicating he would discuss it with the President. Fishback proposed that Trump collaborate with Congress to establish a 'DOGE Dividend' or tax rebate checks funded by $400 billion, representing 20% of DOGE's $2 trillion savings target. He estimated that if the savings were distributed to taxpayer households, each could receive approximately $5,000. The exact amount DOGE has saved remains unclear. During his first term, Trump issued stimulus checks to Americans when the COVID-19 pandemic severely impacted the U.S. economy. Musk's team is currently working on significant budget cuts and layoffs within federal agencies. The billionaire and Tesla CEO aims for a $2 trillion reduction in federal spending, which he describes as the 'ideal outcome.' Musk assured that the 'DOGE Dividend' would not trigger inflation, as the funds would solely come from expenditure cuts, benefiting primarily taxpayers with a propensity to save. Musk received a standing ovation when introduced by Trump, who praised him as a person of 'very high IQ,' while acknowledging some minor flaws.