U.S. President Donald Trump stands alongside Elon Musk and Musk’s son, X Æ A-12, in the Oval Office of the White House in Washington, D.C., on February 11, 2025.
Kevin Lamarque | Reuters
Elon Musk announced his intention to consult with President Donald Trump regarding a proposal that would provide tax refund checks to Americans, funded by savings identified by the Department of Government Efficiency advisory group he leads.
In a post on X on Tuesday, the Tesla and SpaceX CEO stated he would “check with the President.” This comment was in response to a previous suggestion by James Fishback, CEO of the Azoria investment firm, proposing that Trump could deliver a so-called DOGE Dividend as tax refunds to U.S. households funded by savings stemming from DOGE’s cost-cutting initiatives.
Musk has expressed his objective of reducing federal expenditures by $2 trillion from a total annual budget of $6.75 trillion for the most recent fiscal year, which ended on September 30. Fishback proposed that if this goal is achieved, approximately $400 billion, or 20%, could be allocated to taxpayers, translating to about $5,000 per household.
“When a breach of this magnitude occurs in the private sector, the counterparty minimally refunds the customer due to their failure to deliver on promises,” wrote Fishback in his proposal. “It’s about time for the federal government to do the same and return money to taxpayers in light of what DOGE has revealed.”
During the Covid pandemic in 2020, government stimulus checks mailed to millions of taxpayers featured Trump’s signature, marking the first time a president’s name appeared on any IRS payments, as reported by the Associated Press at that time.
DOGE claims to have saved an estimated $55 billion through its initiatives; however, recent reports indicate that the actual figure may be significantly lower.
On Wednesday, Bloomberg reported that the DOGE website only reflects $16.6 billion of the $55 billion it claims to have saved. The New York Times reported on Tuesday that DOGE incorrectly cited an $8 billion savings on a federal contract, which was actually only for $8 million.
Additionally, many of DOGE’s initiatives have faced legal challenges. However, a federal judge denied a request on Tuesday to stop DOGE from accessing federal agency computer systems or directing the dismissal of government employees during the ongoing litigation.
