WASHINGTON — Tech billionaire Elon Musk and conservative activist Vivek Ramaswamy began exchanging ideas in person with congressional Republicans on Thursday about ways they could rein in federal spending and policies after President-elect Donald Trump takes office. Can reduce regulations.
Musk and Ramaswamy traveled to Capitol Hill for meetings with members of the House and Senate. This was his first such visit since then. Trump’s appointment as foreign adviseris heading a commission called the Department of Government Efficiency. DOGE is also the name of an internet meme. And a cryptocurrency.
“This is a brainstorming session,” House Speaker Mike Johnson, R-La., told reporters between meetings. He said the talks are “laying the groundwork” for what lawmakers will do next year.
They have their work cut out for them.
Trump oversaw deficit growth during his first term, even before the Covid-19 pandemic. In his 2024 campaign, he promised to preserve the two most expensive parts of the budget — Social Security and Medicare.Cutting out waste and fraud“He also called for trillions of dollars in additional tax breaks on tips and overtime, in addition to extending his 2017 tax cuts, which would add to the debt. And most congressional Republicans want to continue increasing military spending. Are committed, another big piece of the pie.
Musk, one of the world’s richest people, has a potential advantage over congressional Republicans because of his willingness to spend some of his vast wealth on politics, and his recent closeness to Trump. As recently as Sunday, the CEOs of Tesla and SpaceX have done it repeatedly Warned Republicans to fall in line. Behind Trump’s priorities otherwise? A fundamental challenge is faced. In 2026
Officially, though, Musk and Ramaswamy’s roles are advisory only. He will not be in government and will instead send recommendations to the Trump White House with a deadline of July 4, 2026.
Musk’s newfound political influence follows his campaign for Trump over the summer and fall. His super PAC, America PAC, spent more than $152 million to promote Trump and other Republicans, most of which came from Musk and his friends, according to disclosure reports filed with the Federal Election Commission. According to Musk also held events for Trump in the swing state of Pennsylvania and turned X, which he owns. A megaphone for pro-Trump views.
Ramaswamy, a former biotech executive, ran in the Republican primary for president and lost to Trump before later endorsing him.
Musk has repeatedly faced questions about a potential conflict of interest in advising on the federal budget. SpaceX is a major federal contractor, including with the Department of Defense and NASA. And, according to Ramaswamy, they have a potential target. $6.6 billion in debt Rivian Automotive, a maker of electric vehicles, competes with Tesla. Musk has not said whether or not he plans to resolve the disputes.
One lawmaker, Sen. Thom Tillis, R.N.C., said Thursday that it was too early to assess priorities for the cuts but that executive action and loosening of regulation by Congress would be a good place to start.
“There are tens of billions of dollars in regulatory relief that are now on the table,” Tillis said.
There was an American budget. $6.1 trillion According to the Peterson Foundation, in fiscal year 2023.
Still, Tillis called Thursday’s conversation an “organizational meeting” — more like “an engagement meeting I would have with a client.”
Speaking to reporters between meetings, Musk reiterated his support for ending tax credits to encourage sales of electric vehicles, aligning with Republicans. Look at clean energy funding cuts.
“I think we should get rid of all the credits,” he said in response to a reporter’s question about tax credits for electric vehicles. (Musk has previously said that EV credit Help Tesla’s competitors..)
Musk said something else as he walked the halls of the Capitol with one of his children. Capitol Hill reporters followed the billionaire so closely, he said, “it seems like there’s an ambient press.”
Once DOGE is established, Musk and Ramaswamy will have a small office of 10 to 12 staff under the Executive Office of the President that will work closely with the Office of Management and Budget, a source involved in the effort said. told NBC News.
They will also have individuals in every federal department and agency who act as DOGE liaisons, sources said. Musk and Ramaswamy are looking for people with business backgrounds who are interested in “cutting through bureaucracy” to fill the roles. “Many of them will be lawyers or have previous experience in this agency,” the source said.
Musk has been willing to consider cuts to some of the federal government’s most popular programs, including Social Security. on Monday, He shared a post on X. Sen. Mike Lee, R-Utah, advocating for the restoration of Social Security to something like individual retirement accounts. “Interesting thread,” Musk wrote.
On Thursday morning, Musk met with incoming Senate Majority Leader John Thune, RS.D. met, while Ramaswamy met behind closed doors with a group of 15 Senate Republicans for a little over an hour. In the afternoon, he met with a large group of members of the House and Senate.
Leaving the meeting with Ramaswamy, the senators told NBC News that it was a positive conversation and included an “exchange of ideas” as Sen. Eric Schmidt, R-Mo., and Sen. Shelley Moore Capto, R-W. VA said. This, however, will not reflect the specific policies discussed within.
A source familiar with the private afternoon meeting told NBC News that the gathering turned into an “open mic session” airing “complaints from House members who want Alvin and Vivek to Solve all problems.”
Some Democrats have expressed interest in working with Musk and Ramaswamy to cut spending and regulations. Representative Ro Khanna, D-Calif., Posted on X. Thursday that Congress should model its efforts on the World War II-era committee. Under the leadership of then Sen. Harry Truman.
“Let’s look at the Truman committee and make sure Americans get their money’s worth with DOD spending,” he wrote.
While GOP efforts to shrink the size of the federal government and eliminate waste are nothing new, the senators didn’t offer much on how the effort would be different or potentially more successful.
Asked about the budget deficit, Tillis said, “You are way ahead.”
While leaving the meeting, Ramaswamy also refused to answer questions from reporters.
In the 2024 election, Republicans held a 53-vote majority in the Senate and a paper-thin majority. House majority 220-215. Those slim margins could give Democrats some leverage over the outcome, and some of them scoff at new efforts led by Musk.
“DOGE is not real. Just because someone says so-and-so is a department now and it doesn’t mean the actual department is no longer there,” said Rep. Brandon Boyle, D-Pa., ranking member of the Budget Committee. .
“Republicans are complete hypocrites when it comes to the deficit and the debt. … Trump increased the national debt more than any president in American history,” Boyle continued. “So I’ve seen this movie before. I have absolutely no doubt that if Trump gets through his second round of tax cuts, it will explode the national debt.
Veterans of past failed debt reform efforts, including the 2011 Obama-era bipartisan “supercommittee,” doubt DOGE will be much more successful unless it is willing to take on sacred cows.
“If the past is anything to go by, the DOGE faces an uphill battle. It is not yet clear what authority the DOGE has or has access to, but the federal budget cannot be managed through negotiation. “Could,” said Zach Mallove, a lobbyist who worked for Sen. Patty Murray, D-Wash. Served as Policy Assistant to, when he co-chaired the Super Committee.
Lawmakers will have to accept some “political pain” for it to make sense, Malo said. “Finally, the math doesn’t add up: With a $1.7 trillion annual discretionary budget, you can’t cut $2 trillion without tapping into the nation’s social safety net.”