Donald Trump plans to return part of DOGE savings directly to American taxpayers - World News

Donald Trump plans to return part of DOGE savings directly to American taxpayers – World News

Posted by author February 20, 2025 World

US President Donald Trump announced on Wednesday that his administration is taking into account allotting 20% of the savings collected by Elon Musk’s Department of Government Efficiency (DOGE) initiative directly to American citizens. While addressing a high-profile gathering of global financiers and tech executives in Miami, hosted by Saudi Arabia’s sovereign wealth fund, Trump also stated the likelihood of using another 20% of the savings to aid pay down the national debt.

‘’There’s even under consideration a new concept, where we provide 20% of the DOGE savings to the American citizens and 20% moves to paying down debt,’’ Trump stated, as reported by Reuters.

All about DOGE dividend idea

The idea became popular when James Fishback, CEO of Azoria Partners, suggested a ‘’DOGE dividend’’ in a memo shared on social media platform X. Fishback proposed utilizing 20% of DOGE’s savings that’s estimated $400 billion to give a $5,000 check to every tax-paying household after the program’s scheduled conclusion in July 2026.

Musk who has been in charge of the cost-cutting initiative, replied to Fishback’s post stating, ‘’Will check with the President.’’ A source who is close to the discussion told Reuters that Fishback is now in direct contact with the Trump administration related to the proposal.

DOGE’s future plans

Musk’s DOGE initiative objective is to cut down $1 trillion in government spending, with a target of $2 trillion. As per Reuters analysis, the initiative taken by DOGE has removed hundreds of small contracts, seemingly saving taxpayers $8.5 billion. However, some Republican budget experts indicate that the initiative is more politically driven than just financial motives.

With Musk’s own company, SpaceX having more than $22 billion in government contracts, the broader implications of DOGE continue to be debated.