Elon Musk to Lead Government Efficiency Panel

Elon Musk will lead a new panel set up by President-elect Donald Trump to streamline the U.S. government and reduce federal spending by $2 trillion. Along with Vivek Ramaswamy, Musk aims to cut regulations and restructure federal agencies. The public can comment on the panel's actions, reminiscent of the Grace Commission from 1982.

WASHINGTON – President-elect Donald Trump has appointed Elon Musk, the billionaire CEO of Tesla, to head a panel aimed at streamlining the U.S. government and reducing federal spending by $2 trillion, a goal Musk announced at a rally in October.

The panel, which also includes former Republican presidential candidate Vivek Ramaswamy, will aim to cut regulations and restructure federal agencies, potentially eliminating the Department of Education to give states greater control of schooling.

Trump's initiative is similar to past efforts, notably the Grace Commission by Reagan in 1982. The panel will make its actions available for public comment, encouraging feedback on government spending practices.

(With inputs from agencies.)