On February 19, President Donald Trump announced that his administration is exploring the possibility of allocating 20% of the savings identified by Elon Musk's Department of Government Efficiency (DOGE) initiative back to the American people. He mentioned this proposal during a gathering of global financiers and tech executives organized by Saudi Arabia's sovereign wealth fund in Miami. Trump also disclosed considering using another 20% of the savings to reduce the federal government's debt.
In his statement at the event, Trump stated, "There's even under consideration a new concept, where we give 20% of the DOGE savings to American citizens, and 20% goes to paying down debt."
The idea initially surfaced from businessman James Fishback, who shared a detailed memo on social media site X proposing a "DOGE dividend." Elon Musk expressed interest in the concept and replied, "Will check with the President."
Fishback, CEO of Azoria Partners investment firm, has been in communication with the Trump administration regarding his proposal, according to a source familiar with the discussions disclosed to Reuters.
Fishback's memo suggests diverting 20% of DOGE's projected $2 trillion savings, equivalent to $400 billion, to distribute $5,000 payments to all tax-paying households after DOGE's completion scheduled for July 2026.
Musk's initiative to streamline government spending has already eliminated numerous relatively small contracts leading to savings for U.S. taxpayers. His efforts have shown potential savings, with SpaceX alone having secured approximately $22 billion in contracts with the U.S. government.
Experts noted that Musk's initial actions seem aimed at reducing federal agencies that have been criticized by conservative groups, rather than solely focusing on cost-saving measures for taxpayers.