Trump considering returning 20% of DOGE savings to Americans
What's the story
United States President Donald Trump has proposed a plan to share a fraction of the savings identified by Elon Musk's Department of Government Efficiency (DOGE) with American citizens.
Speaking at an investment summit in Miami, Trump proposed using 20% of these savings for direct payments to the public and another 20% to cut the federal government's $36 trillion debt.
Dividend proposal
'DOGE dividend' could result in $5,000 checks for households
The proposal comes after James Fishback, CEO of investment firm Azoria, suggested a "DOGE dividend" funded by cost-cutting measures.
Fishback's memo estimated that if DOGE saves $2 trillion by July 2026, each tax-paying household could receive a $5,000 check.
According to Reuters analysis of partial data given by Musk's team, his cost-cutting efforts have resulted in the elimination of hundreds of relatively small contracts, saving taxpayers $8.5 billion. This is a fraction of what the US government pays contractors annually.
Savings scrutiny
DOGE's claimed savings and impact on federal agencies
DOGE has claimed $55 billion in savings so far, but it has not provided detailed documentation.
A list published by DOGE cited $16 billion in contract cancelations but included errors such as misstating an $8 million contract as $8 billion.
The initiative has resulted in significant workforce reductions and budget cuts across federal agencies, with the Internal Revenue Service planning to lay off at least 6,000 employees as part of these efforts.