Federal contractors should expect “massive cuts” as President-elect Donald Trump’s government efficiency campaign continues, according to businessman Vivek Ramaswamy, who will lead the initiative along with billionaire Elon Musk. can receive after
“There is massive waste, fraud and abuse going on right now,” Ramaswamy said on Fox News. Sunday Morning Futures. “Federal contractors are really exploiting the federal government.”
Trump said last week that the new panel — known as the Department of Government Efficiency — would work with the White House’s Office of Management and Budget to cut red tape, cut regulations, cut waste and streamline federal agencies. will work for the restructuring of
“We expect some agencies to be eliminated altogether,” Ramaswamy said. “We expect massive reductions in power in areas of the federal government that are bloated. We expect massive cuts among federal contractors and others that are overbilling the federal government.
Ramaswamy has not singled out a contractor, and it is not yet clear how the performance drive will be structured.
If Musk and Ramaswamy are added to the federal advisory committee, they will be subject to ethics rules that require them to recuse themselves from discussions and decisions that personally affect them. SpaceX, Musk’s rocket company, has more than $15 billion in federal contracts.
