Elon Musk Leads Federal Cost-Cutting Effort Amid Treasury Access Concerns

Tesla CEO Elon Musk Announces Robotaxi Product Reveal Date

Key Points

  • Elon Musk is leading Trump’s federal cost-cutting initiative through the Department of Government Efficiency (DOGE).
  • Musk has been granted access to the Treasury payments system, which handles over $6 trillion annually and contains sensitive taxpayer data.
  • Musk’s team reportedly took control of the U.S. Office of Personnel Management (OPM).
  • The Trump administration has aggressively restructured federal agencies, removing hundreds of career civil servants.

Billionaire Elon Musk, appointed by President Donald Trump to lead federal downsizing efforts, is set to provide an update on the initiative early Monday. Reports indicate that Musk has been granted access to a crucial payments system at the U.S. Treasury Department, raising concerns over data security and executive overreach.

Musk, who also serves as CEO of Tesla and SpaceX, plans to discuss the Department of Government Efficiency (DOGE) in a social media talk on his platform, X. Trump has tasked him with overseeing a federal cost-cutting panel to reduce government spending.

According to a New York Times report, Musk’s team has access to a Treasury system responsible for distributing over $6 trillion annually in Social Security payments, tax refunds, and other federal transactions. This system contains sensitive personal information of millions of Americans. Senator Peter Welch, a Democrat on the Senate Finance Committee, criticized the move, calling it a “gross abuse of power” and questioning why Musk was granted access to taxpayer data.

Trump, however, has expressed full support for Musk’s role in the administration. When asked on Sunday about Musk’s performance, Trump praised his cost-cutting abilities, stating, “He’s a big cost-cutter. Sometimes, we won’t agree, but I think he’s doing a great job. He’s a smart guy, very smart.”

Musk’s influence in government operations appears to be growing. On Friday, Reuters reported that aides associated with Musk had taken control of the U.S. Office of Personnel Management (OPM), which manages federal human resources. Sources revealed that career civil servants were locked out of systems containing the personal data of millions of government employees. Additionally, Musk’s allies assumed key positions at OPM on January 20, the day Trump was inaugurated.

Trump’s administration has aggressively restructured the federal workforce, removing or sidelining hundreds of civil servants within the first 11 days of his second term. While the White House views these actions as steps toward a leaner government, critics warn of the risks of privatizing public functions and compromising data security.

EDITORIAL TEAM
EDITORIAL TEAM
TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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