Billionaire Elon Musk said on Feb. 18 that he will discuss with President Donald Trump a proposal to send U.S. taxpayers rebate checks representing a portion of the money saved by the Department of Government Efficiency (DOGE).

Musk is spearheading the Trump administration’s efforts to reshape the federal government and reduce wasteful spending.

The DOGE leader took to his social media platform, X, to say he would check with Trump regarding the possibility of introducing a “DOGE Dividend.”

The SpaceX and Tesla founder made the remarks in response to a suggestion from James Fishback, CEO of investment firm Azoria, that a “tax refund check” be sent out to Americans after DOGE completes its work in July 2026.

The refund would be funded “exclusively with a portion of the total savings delivered by DOGE,” according to Fishback’s proposal.

As Katabella Roberts reports for The Epoch Times, DOGE aims to deliver $2 trillion in federal spending cuts during its 18-month lifespan.

Fishback’s proposal calls for 20 percent of the $2 trillion in savings—approximately $400 billion—to be returned to 79 million tax-paying households via direct payments.

That would amount to roughly $5,000 being returned to each of those 79 million households, according to Fishback.

He said the rebate “compensates American taxpayers for the egregious misuse and abuse of their hard-earned tax dollars that DOGE has uncovered,” and encourages them to report “instances of waste, fraud, and abuse” to DOGE, thereby increasing the total amount that DOGE saves.

In addition, Fishback said the rebate would help “restore public trust between taxpayers and their government” and increase “tax morale.”

It would also incentivize labor force participation, the investor said, noting that the rebate would be available only to net payers of federal income tax in 2025.

Musk responded to Fishback’s proposal, saying he “will check with the president.”

The entrepreneur also responded to another post on X regarding the potential tax refund, writing: “Obviously, the President is the Commander-in-Chief, so this is entirely up to him.”

DOGE Says Billions Saved Amid Cost-Cutting Efforts

DOGE said its cost-cutting efforts across several federal agencies had saved an estimated $55 billion as of Feb. 17.

The savings came from a combination of fraud detection and deletion, contract and lease cancellations and renegotiations, asset sales, grant cancellations, workforce reductions, programmatic changes, and regulatory savings that have been implemented across federal agencies, according to DOGE’s official website.

DOGE stated that contract cancellations alone accounted for approximately 20 percent of the overall savings amassed since the department was established by Trump in January.

The top 10 agencies with the highest total contract savings include the U.S. Agency for International Development (USAID), responsible for administering U.S. foreign aid and development assistance; the Department of Education; the Office of Personnel Management; the Department of Health and Human Services; and the Department of Agriculture, according to the DOGE website.

Many Republicans have long seen many of the agencies currently targeted by DOGE as pushing liberal agendas that are detrimental to U.S. interests.

However, the agencies account for just a small fraction of the overall federal budget, which is projected to reach $7 trillion this fiscal year, according to the Congressional Budget Office.

For example, USAID disbursed about $72 billion in aid in fiscal year 2023, Reuters reported, citing government figures. That amounted to about 1 percent of total federal outlays, according to the news agency.

Musk is also facing criticism from Democrats and other groups over his role with DOGE and possible conflicts of interest.

The White House has previously said that the Space X and Tesla founder is a “special government employee” under the Trump administration and acts as an adviser only.

While speaking to reporters alongside Trump in the Oval Office on Feb. 11, Musk defended his position as an unelected official while vowing to remain transparent with the American public.

“You can’t have an autonomous federal bureaucracy,” Musk said. “You have to have one that’s responsive to the people.”