According to entrepreneur Vivek Ramaswamy, who will co-lead the initiative with billionaire Elon Musk, federal contractors will face “huge cuts” in what they can charge for lifting efforts. Increasing the efficiency of President-elect Donald Trump’s government is underway.
“There is massive waste, fraud and abuse right now,” Ramaswamy said. fox News’ Sunday Morning Futures. “Federal contractors are really exploiting the federal government.”
Last week, Trump said the new commission — called the Department of Government Effectiveness — would work with the White House Office of Management and Budget to eliminate red tape, cut regulations, cut spending waste and restructuring of federal agencies.
“We hope certain agencies will be completely removed,” Ramaswamy said. “We expect massive reductions in force across bloated areas of the federal government. We expect major cuts among federal contractors and others who are overcharging the federal government.”
Ramaswamy did not single out any bidder and it remains unclear how the performance incentive will be structured.
If Musk and Ramaswamy are placed on federal advisory committees, they would be subject to ethics laws that require them to stay out of discussions and decisions that affect them personally. SpaceXMusk’s rocket company, has more than $15 billion in federal contracts.
