If you’re tired of seeing your hard-earned money go to waste in the federal government, you’re not alone.
Elon Musk just expressed interest in a proposal to give taxpayers a “DOGE dividend” payment using savings from the Department of Government Efficiency (DOGE).
But what does this mean for you, and how much could you potentially get back?
How the “DOGE Dividend” Works
The idea was first proposed by James Fishback, who suggested taking 20% of the savings found by DOGE and sending it back to hard-working Americans as a tax refund check.
With DOGE aiming to cut $2 trillion in federal spending, that could translate to a $5,000 refund per household. The remaining amount would be used to pay down the national debt.
Musk’s Response
When Fishback tagged Musk in a post outlining his plan, Musk replied, “Will check with the President.”
Although DOGE has set an ambitious goal, Musk has suggested that $1 trillion in savings would be a success.
He explained this goal in an appearance with President Donald Trump on Fox News’ “Hannity,” emphasizing the importance of controlling the deficit to avoid bankruptcy.
The State of Federal Spending
The federal government ran a massive budget deficit of over $1.8 trillion in fiscal year 2024, with projections expecting it to grow above $2 trillion annually in the years ahead.
Musk has stressed that balancing the budget should be the top priority, given DOGE’s efforts to cut waste, fraud, and abuse.
What’s Next for the “DOGE Dividend”
While Musk appeared open to the idea of a DOGE dividend, he later clarified that balancing the budget should be the focus.
He responded to concerns that the DOGE dividend could result in the government using the savings as a “piggy bank,” saying, “We need to balance the budget as first priority.”
As the discussion continues, one thing is clear: the fate of the “DOGE dividend” will be closely watched by taxpayers and lawmakers alike.