UPDATE 3-Trump to back Musk's proposal for government efficiency commission

Musk also said on an Aug. 19 podcast that he had held conversations with the former president about the matter and that he would be interested in serving on the body. The commission would conduct "a complete financial and performance audit of the entire federal government" and make "recommendations for drastic reform," Trump will say on Thursday, according to the Wall Street Journal, which first reported on Trump's planned remarks.

Republican presidential candidate Donald Trump was delivering a speech to top business executives in New York on Thursday in which he was expected to throw his weight behind the creation of a U.S. government efficiency commission recommended by billionaire Elon Musk. The former president has been discussing the idea of a government efficiency commission with aides for weeks, people with knowledge of those conversations have said. This, however, will be the first time he will publicly endorse the idea, which Musk, a major donor and prominent supporter, has advocated.

During an Aug. 13 interview with Musk, Trump said he would "love" a government efficiency commission, though he stopped short of saying he would establish one if he wins the election. Musk also said on an Aug. 19 podcast that he had held conversations with the former president about the matter and that he would be interested in serving on the body.

The commission would conduct "a complete financial and performance audit of the entire federal government" and make "recommendations for drastic reform," Trump will say on Thursday, according to the Wall Street Journal, which first reported on Trump's planned remarks. Musk on Thursday reiterated his openness to serving on the body.

"I look forward to serving America if the opportunity arises," Musk wrote on X. Senior Trump adviser Brian Hughes, in a conference call with reporters before the speech, said that Trump would work with Musk on executing the mission of the efficiency commission.

"Elon Musk, as the president has said, is a genius," Hughes said. Attendees at Thursday's event included Steve Mnuchin, who was U.S. treasury secretary under Trump and now leads the private equity firm Liberty Strategic Capital, and Cantor Fitzgerald chief executive Howard Lutnick, who serves as co-chair of Trump's transition team.

On the campaign trail, Trump has frequently blamed Democratic nominee Kamala Harris, the vice president, for the rise in prices of everyday goods during President Joe Biden's term in office. While headline inflation has slowed in the past two years, many U.S. consumers are still unhappy with the higher prices they have to pay for food, gas and other goods, according to public opinion polls.

Trump is seen as a more competent steward of the economy by most voters. But his advantage over Harris on the issue is eroding, surveys show.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)