Trump Considers ‘DOGE Dividend’ to Return Federal Savings to Taxpayers

[Social Media]

 

President Donald Trump announced Wednesday that he is weighing a proposal to return 20% of the savings from Elon Musk’s Department of Government Efficiency (DOGE) initiative to American taxpayers. The move could provide thousands of dollars in relief to citizens grappling with record inflation.  

 

“There’s even under consideration a new concept where we give 20% of the DOGE savings to American citizens and 20% goes to paying down debt,” Trump said during a speech in Miami Beach to a nonprofit backed by Saudi Arabia’s sovereign wealth fund. He added, “The numbers are incredible, Elon, so many billions — hundreds of billions — and we’re thinking about giving 20% back to the American citizens.”  

 

Trump’s remarks followed Musk’s recent statement on X, formerly known as Twitter, where he confirmed he would discuss the idea with Trump. The proposal was initially floated by investor James Fishback, who has actively pushed for a taxpayer rebate tied to DOGE’s cost-cutting measures.  

 

While the exact amount DOGE has saved so far remains uncertain, Musk has set an ambitious goal of cutting $1 trillion in federal costs annually. His 100-person team has been aggressively restructuring the federal bureaucracy, shutting down agencies, reducing staff, and canceling contracts deemed unnecessary.  

 

Among the most dramatic measures taken, DOGE has halted operations at USAID, a $50 billion-a-year foreign aid agency, while laying off most of its 10,000 employees. It has also begun dismantling the Consumer Financial Protection Bureau, an agency with 1,700 employees and $712 million in funds, the fate of which remains uncertain.  

 

Additionally, last week DOGE uncovered $1.9 billion in "misplaced" and unused funds within the Department of Housing and Urban Development and canceled $373 million in Education Department grants that were allocated for Diversity, Equity, and Inclusion (DEI) training programs. The initiative also scrapped $900 million in grants meant for tracking academic progress and signaled that the Pentagon’s discretionary spending could be next in line for cuts.  

 

Musk, who leads SpaceX, Tesla, and X, has stated that he plans to spearhead this government spending overhaul for approximately four months. Fishback, a strong proponent of the "DOGE Dividend," has estimated that if DOGE achieves $2 trillion in savings over two years, the total would translate to approximately $25,000 per taxpayer. Under the proposed 20% rebate plan, each taxpayer could receive about $5,000.  

 

However, Musk clarified in a tweet on Wednesday that no specific amount has been decided. He also suggested that the payout could take the form of lower tax bills rather than direct payments. “The amount would… obviously be proportionate to how much savings DOGE actually achieves,” he wrote.  

 

“More savings would mean a bigger tax reduction! The top DOGE priority remains however reducing the deficit to stop inflation and lower people’s interest rates.”  

 

The proposal remains in its early stages and would require congressional approval before any payments or tax reductions are implemented. Meanwhile, debates continue over whether government savings should be returned to taxpayers, used to pay down national debt, or reallocated elsewhere within the federal budget.

 

Based on a report by NYP  2025-02-21

 

 

[khunjeff]

I'll start thinking about how to spend my check for 12 cents right now 🙄

[timendres]

Personally, I would prefer that they apply all of the savings to the debt.

After the annual deficit is eliminated.

[ignore it]

Works for me.

[Paul Henry]

Just another distraction and empty promise.we have not seen any savings yet just a lot of numbers.Moving the deck chairs on the  TItanic before it sinks!

[Luuk Chaai]

5 hours ago, Paul Henry said:

Just another distraction and empty promise.we have not seen any savings yet just a lot of numbers.Moving the deck chairs on the  TItanic before it sinks!

 

US recoups $59 million spent on migrant luxury hotels: Homeland Secretary chief

[candide]

And free haircuts, too!