During a speech at the New York Economic Club on Thursday, Republican presidential candidate Donald Trump unveiled his economic vision for the nation. In addition to outlining his plans for the economy, Trump made a significant announcement: he intends to establish a government efficiency commission, to be led by billionaire Elon Musk, if he wins the November 5th election.
Sources familiar with the conversations told Reuters that Trump has been discussing the idea of a government efficiency commission with his advisors for several weeks. Trump stated that Musk has agreed to head the commission, which will focus on developing a strategy to eliminate “fraud and improper payments” within six months of its formation. While Trump did not provide specific details about the commission’s operations, he emphasized its purpose: “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.”
Musk, who previously discussed the possibility of serving on such a commission in an August 19th podcast, confirmed his willingness to take on this role. “I look forward to serving America if the opportunity arises,” he wrote on X (formerly Twitter) on Thursday. “No pay, no title, no recognition is needed.”
Trump’s speech was attended by several prominent business leaders, including JP Morgan CEO Jamie Dimon, Blackstone Group CEO Stephen Schwarzman, and Trump’s former treasury secretary, Steve Mnuchin. Cantor Fitzgerald chief executive Howard Lutnick, who serves as co-chair of Trump’s transition team, was also present.
On the campaign trail, Trump has repeatedly blamed Democratic nominee Kamala Harris, the vice president, for the rise in prices of everyday goods during President Joe Biden’s term. Although headline inflation has slowed in the past two years, many U.S. consumers continue to express dissatisfaction with the higher prices they face for food, gas, and other goods, according to public opinion polls.
Trump is generally viewed as a more competent economic leader by most voters. However, surveys suggest that his advantage over Harris on this issue is diminishing.
