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Home»GOVERNMENT»Musk Floats Notion Of Dramatically Cutting Budget Of Dreaded Federal Agency

Musk Floats Notion Of Dramatically Cutting Budget Of Dreaded Federal Agency

By Frank BNovember 29, 2024Updated:November 29, 2024 GOVERNMENT
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Billionaire Elon Musk, who is set to join the new Trump Administration as a co-leader of the newly established, informal Department of Government Efficiency (DOGE) commission, has frequently proposed ideas on his social media platform, X. On Wednesday, Musk asked his millions of followers whether Congress should approve a recent $20 billion funding request from the Internal Revenue Service, submitted by Biden Deputy Treasury Secretary Wally Adeyemo, who stated that the additional funds are essential for the effective operation of the tax collection agency.

“The IRS just said it wants $20B more money,” Musk wrote on X, formerly Twitter.  “Do you think its budget should be Increased, Same, Decreased, or Deleted,” he asked in an attached poll. Over 60% of participants in his poll advocated for the IRS’s budget to be “deleted.” This marks the latest example of Musk seeking public input on his policy initiatives through X, the platform he acquired in 2022.

Adeyemo’s request for additional funding follows Republican lawmakers’ successful inclusion of a $20 billion budget cut for the agency in a federal funding stopgap bill passed in September. This bill ensures government funding remains in place until December 20. Additionally, Musk has advocated for reducing government regulations by proposing the elimination of the Consumer Financial Protection Bureau, the agency tasked with allegedly protecting consumers in the financial sector but which has most often, instead, been weaponized against ‘disfavored’ corporations. “Delete CFPB. There are too many duplicative regulatory agencies,” Musk posted to X.  The agency was created by the 2010 Dodd-Frank law passed in the wake of the 2008 financial crisis to regulate the sector.

In August, then-former President Donald Trump detailed what a potential role for Musk might look like in a future administration during an appearance on the Shawn Ryan podcast, which will be posted online on Monday. Trump initially proposed the idea of Musk joining a future Trump Administration in a cabinet or advisory capacity during a lengthy discussion on X earlier this month. He reiterated his enthusiasm for the prospect in a recent Reuters interview, stating, “I certainly would, if he would do it, I certainly would. He’s a brilliant guy.”

“I read that Elon Musk said that he would accept a position in your cabinet. Would that have to do with artificial intelligence?” Ryan asked. Trump responded: “He’s great. And he’s smart. And we have to cherish our geniuses. You know, we don’t have too many of them right? He is a brilliant guy, and what he really would like to do is get involved in cutting some of the fat, and he does know how to do it. And he loves our country, you know, it’s just an amazing thing.

Within hours, Musk took to X to state that he would be open to the idea. “I am ready to serve,” he wrote. The post included an AI-generated photo of Musk standing over a podium with the name “Department of Government Efficiency (D.O.G.E.),” a reference to a cryptocurrency asset he has long supported.

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