Trump says Musk has agreed to run proposed 'government efficiency commission'

Former President Trump said Thursday that he would establish a "government efficiency commission" if he wins in November, and that billionaire ally Elon Musk would lead the effort.

“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 in remarks to the Economic Club of New York. "Need to do it. Can't go on the way we are now."

Musk, who endorsed the GOP nominee in the 2024 election, has agreed to lead the task force, "if he has the time," Trump said.

The tech mogul, who serves as the head of Tesla and SpaceX, and the owner of social media platform X, signaled in a social media post Thursday that he was willing.

“I look forward to serving America if the opportunity arises,” Musk posted on X. “No pay, no title, no recognition is needed.”

He said in an earlier post that the commission would "would unlock tremendous prosperity for America."

Musk first brought up the concept during a conversation with the former president that was broadcast on X last month, suggesting such a panel could study the national debt and how Congress could reassess spending.

But it's unclear what concrete cuts the group might come up with, and some Democrats have expressed skepticism that the commission would be a serious effort.

"By definition, this would mean Trump supports cutting Social Security, Medicare, or veterans benefits. At the same time, Trump is proposing trillions in tax cuts for the rich," Bharat Ramamurti, a former Biden White House economic official, posted on X. "That’s his fundamental goal: more money for his rich buddies, less for everyone else."

The national debt grew during Trump's first term in office, and a Penn Wharton Budget Model analysis released last month estimated the effects of an array of the former president's economic proposals could add north of $4 trillion to the nation’s deficits over a decade.