How did Elon Musk become so powerful in Washington?
As the head of the Department of Government Efficiency (DOGE), Elon Musk has initiated major reforms, but who exactly is he and what led to his influence in Washington?
Elon Musk, leader of the Department of Government Efficiency (DOGE) and tech billionaire, has once again reduced the agency’s projected savings goal from $2 trillion to $1 trillion, and now to $150 billion.
During an April 10 cabinet meeting, Musk announced that DOGE aims to trim $150 billion from government spending over the upcoming fiscal year, a significant drop from the initial $2 trillion target.
What comments did Musk make? Are DOGE checks still on the agenda? Will this revised savings target affect the timing of dividend payments for Americans? Here’s what we currently understand.
What did Elon Musk inform Donald Trump regarding DOGE savings?
At a cabinet meeting, Musk expressed to President Donald Trump, “I’m thrilled to share that we project savings in FY 26 from [the] reduction of waste and fraud amounting to $150 billion.” Reports from USA TODAY indicate that it remains uncertain whether Musk misrepresented DOGE’s savings, which is claimed to be $155 billion according to DOGE’s official website.
DOGE has recently been implicated in a “significant cybersecurity breach,” potentially involving sensitive case files, as highlighted by a whistleblower complaint.
What needs to happen for the $5,000 DOGE checks to be issued?
Musk stated that the issuance of DOGE checks depends on the approval of President Trump and Congress, which must first authorize the checks before they can be distributed.
Currently, no formal proposal has been introduced in Congress, which is the essential first step in this situation, according to reports from the Arizona Republic. The publication also notes that until Congress passes a bill sanctioning the payments, no checks will be issued and there is no defined timeline for payments.
Potential DOGE checks may be less than the anticipated $5,000
James Fishback, CEO of the investment firm Azoria, was the first to suggest DOGE stimulus payments, which he mentions were deliberated during the Trump administration. However, there has been minimal progress since this proposal emerged in February. Fishback cautions that the check amounts could be diminished if DOGE achieves lower savings.
“If the savings are merely $1 trillion, which seems quite low, the check would decrease from $5,000 to $2,500,” Fishback stated on a podcast. “Should the savings amount to only $500 billion, again a notably low figure, the checks would only total $1,250.”
Thus, even if Congress were to authorize DOGE stimulus checks, the actual amounts could be significantly less than $5,000.
