With the Donald Trump administration setting up the newly created Department of Government Efficiency (DOGE) and placing billionaire Elon Musk at its helm, the government has resorted to drastic cost-cutting measures to save taxpayers' money. These steps included laying off Federal workers and cutting foreign financial aids.
The Elon Musk-led department has claimed that it has saved $55 billion of taxpayers' money so far.
Will US taxpayers be paid from DOGE Dividend?
Musk had earlier vowed to slash Federal spending by $2 trillion. President Trump said his team is mulling to pay 20 per cent of these savings back to the US citizens while another 20 per cent to pay Federal debt. It is not clear how the remaining 60 per cent will be utilised.
Elon Musk confirms the DOGE $5000.00 Dividend Checks are Happening pic.twitter.com/D82WfMy5cs
— D. Scott @eclipsethis2003 (@eclipsethis2003) February 21, 2025
"A 20 per cent dividend, so to speak, for the money that we're saving by going after the waste, fraud and abuse and all of the other things that are happening. I think it's a great idea," said the US leader.
The President pointed out that this would encourage Americans to directly report if there waste of taxpayers' money. "They participate in the process of saving money, he added.
Why not every American would be eligible for DOGE Dividend?
If Trump's plan comes into action, American households could get cheques up to $5,000 once Musk completes his mission by July 2026. Around 79 million tax-paying households would be eligible for the $400 billion under this plan.
However, these households include only 60 per cent of Americans who pay more in income tax than they get in government benefits.
