'I Love It': Trump on Musk's Idea of Stimulus Cheques and Repaying National Debt Using DOGE Savings

Earlier this week, Elon Musk said he would present Azoria CEO James Fishback's idea of returning 20% of savings generated from DOGE's federal downsizing efforts to US President Donald Trump.

Yesterday, Trump noted that his administration is evaluating the proposal during a gathering in Miami.

'[We are considering] a new concept where we give 20% of the DOGE savings to American citizens, and 20% goes to paying down debt because the numbers are incredible. So many billions, hundreds of billions are being saved...so we're thinking of giving 20% back to the American people,' Trump told global financiers and tech execs during a Saudi Arabia-backed investment conference.

Trump explained that the potential for dividend payments would incentivise people to report wasteful spending. 'They'll be reporting it themselves...They participate in the process of saving us money,' he added.

On his way back to Washington, a reporter asked how he felt about Musk's plan, to which the President responded: 'I love it.'

How Much Taxpayers Can Receive If DOGE Dividend Cheques Become A Reality

If Musk reaches his goal of trimming annual federal spending by £1.58 trillion and Trump approves the DOGE dividends, then each of the 78 million US households paying federal income tax could receive cheques worth £3,960.

As the Trump Administration considers the new proposal to return money to American taxpayers, it is important to know that the DOGE rebate programme and the distribution method of these stimulus cheques would require Congressional approval.

'If [the DOGE dividend proposal] is real, you have to have a way of estimating and collecting the amounts that are being saved and putting them into some account. Both OMB and CBO would look at that, and then Treasury would then record those amounts,' said former OMB official F. Stevens Redburn.

While several lawmakers could want a large portion of the DOGE savings to be used to repay the national debt, some might want to use the money to pay for extensions of tax provisions implemented during Trump's first term.

As of now, Musk's DOGE claims to have saved £43.58 billion, which is only 2.75% of the £1.58 trillion goal. The reduction in federal spending since Trump assumed Office was made possible through major workforce changes in US agencies like USAID, Social Security, the Department of Agriculture and Homeland Security.

Most recently, sources said that Trump will terminate thousands of probationary IRS employees not protected by civil service employment protections in the next few days, right in the middle of tax season.