Howard Lutnick says Elon Musk committed to cut $1 trillion

Commerce Secretary Howard Lutnick revealed Elon Musk made an agreement with him to cut $1 trillion from federal spending via the Department of Government Efficiency.

Nearly a month has passed since Musk began his volunteer position with DOGE under the White House Office of Management and Budget. DOGE is examining the Education, Homeland Security, and Treasury departments and, most recently, NASA. The team hopes to accomplish all of its work by July 4, 2026.