Trump to establish government efficiency commission headed by Elon Musk

During a comprehensive speech at the New York Economic Club on Thursday, Republican presidential candidate Donald Trump unveiled his economic vision for the nation and announced plans to establish a government efficiency commission to be led by billionaire supporter Elon Musk, if he emerges victorious in the November 5 election.

Trump has been exploring the concept of a government efficiency commission with his aides for several weeks, according to sources familiar with the conversations told Reuters.

Trump said that Musk has agreed to helm the commission, which would be tasked with developing a strategy to eradicate “fraud and improper payments” within six months of its formation, although specific details regarding the commission’s operations were not provided.

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

Musk said on an Aug. 19 podcast that he had held conversations with the former president about the matter and that he would be interested in serving on the body.

“I look forward to serving America if the opportunity arises,” Musk wrote on X on Thursday.

“No pay, no title, no recognition is needed.”

In his opening remarks, Trump pointed to a number of business leaders in the audience, including JP Morgan CEO Jamie Dimon, Blackstone Group CEO Stephen Schwarzman and his own former treasury secretary, Steve Mnuchin.

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Attendees at Thursday’s event also included Cantor Fitzgerald chief executive Howard Lutnick, who serves as co-chair of Trump’s transition team.

On the campaign trail, Trump has frequently blamed Democratic nominee Kamala Harris, the vice president, for the rise in prices of everyday goods during President Joe Biden’s term in office.

While headline inflation has slowed in the past two years, many U.S. consumers are still unhappy with the higher prices they have to pay for food, gas and other goods, according to public opinion polls.

Trump is seen as a more competent steward of the economy by most voters. But his advantage over Harris on the issue is eroding, surveys show.

With inputs from agencies.