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Elon Musk announced plans for the Department of Government Efficiency (DOGE) to investigate how certain members of Congress have amassed significant wealth despite modest salaries. He raised concerns about potential financial misconduct involving funds from the US Agency for International Development, suggesting a circuitous route of money that may benefit lawmakers. Musk's visit to Wisconsin also included support for conservative judicial candidate Brad Schimel, where he distributed $1 million checks to draw attention to his campaign against "activist judges."
Elon Musk announced a DOGE-led investigation into the wealth of Democratic lawmakers, questioning how they accumulate millions while earning $200,000 annually. He suggested a complex corruption scheme involving taxpayer money funneled through NGOs, potentially benefiting politicians like Maxine Waters and Chuck Schumer. During a town hall in Wisconsin, Musk also awarded $1 million checks to attendees and emphasized his goal to influence the upcoming Supreme Court vote in the state.
Elon Musk’s Department of Government Efficiency (DOGE) has begun onboarding staff at the US Securities and Exchange Commission (SEC) to implement spending cuts, following the nomination of Paul Atkins to lead the agency. The SEC is preparing for a reduced workforce, with about 500 employees accepting buyout offers, and plans to eliminate office leases in Los Angeles and Philadelphia. Critics, including US Representatives Maxine Waters and Brad Sherman, have expressed concerns over Musk's influence on the agency, citing his contentious history with the SEC.
Democrat leader Maxine Waters has called for the deportation of Melania Trump, sparking a strong response from Elon Musk. Meanwhile, Voler Cars, a leading employee transportation service provider, is preparing to go public, highlighting its asset-light model and steady financial growth, with plans to expand into new cities and enhance technology. The company aims for a 30% year-on-year revenue increase while maintaining a debt-free status and strong cash reserves.
President Trump praised Elon Musk's DOGE initiative for uncovering waste and corruption in federal spending, particularly targeting the Pentagon and Education Department after significant cuts at USAID. Musk aims to reduce the federal budget by up to $2 trillion, while facing criticism from Democrats. Trump emphasized that Social Security would remain untouched, despite plans to cut benefits for illegal immigrants.
Congressman French Hill has been appointed as the next chair of the House Financial Services Committee, succeeding Patrick McHenry. Hill, a proponent of cryptocurrency legislation, aims to clarify regulatory roles between the SEC and CFTC and investigate initiatives targeting the crypto sector. He will officially assume his role on January 3, 2025.
Maxine Waters
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Elon Musk investigates wealth of Congress members amid election campaign efforts
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