Trump has floated the idea of a commission to cut waste before, but this is the first time he has confirmed he would adopt the idea and tap Musk to lead it. / Photo: AFP
Republican White House candidate Donald Trump has unveiled a plan to install billionaire entrepreneur Elon Musk at the head of a government efficiency commission to eliminate "trillions" of dollars in wasteful spending.
Trump told business executives at a speech in New York on Thursday that Musk, who came up with the idea, would oversee a "complete financial and performance audit of the entire federal government" in a second Trump administration.
"As the first order of business, this commission will develop an action plan to totally eliminate fraud and improper payments within six months," Trump told the Economic Club of New York.
"This will save trillions of dollars."
Staking out a distinct economic blueprint from Vice President Kamala Harris ahead of the November 5 election, Trump has pledged sweeping tax cuts, with Bloomberg estimating the cost at more than $10 trillion over a decade.
Trump, 78, reiterated his plan for lower taxes and raising tariffs on imports and said he planned to eliminate ten government regulations for every new one introduced.
He also pledged to make the United States the cryptocurrency capital of the world, and said he would repeal President Joe Biden's signature climate and tax legislation, the Inflation Reduction Act.
Trump has floated the idea of a commission to cut waste before, but this is the first time he has confirmed he would adopt the idea and tap Musk to lead it.
"I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed," Musk posted on his social media platform, X.
F-35 components
During the same luncheon, Trump urged the US to produce all components of the F-35 fighter jet domestically, citing national security concerns.
"We will require all essential materials for our national security to be produced here in the United States, creating millions and millions of new manufacturing jobs," said Trump.
"When we build the F-35, we have the wings built in one country, we have the tail rudders built in another country. We have the seats built in another country. We have the electronics built in seven different countries," he added.
"What the hell would we do if there's a war, and we'll end up fighting half of those countries, and we don't want to have a war, because right now, we're closer to World War III than we've ever been in our lives," he said.
The former president reiterated that the Ukraine war and the carnage in besieged Gaza would have never happened if he were president.
The F-35 is a joint, multinational acquisition programme intended to develop and field a family of next-generation strike fighter aircraft. Seven partner nations — the UK, Canada, Australia, Italy, Netherlands, Denmark and Norway — contribute to the F-35’s development, production and sustainment.
Türkiye was part of the F-35 programme before its participation was suspended because of a dispute about Ankara buying S-500 Russian air defence after its efforts to buy US Patriot missiles were rebuffed by Washington.
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