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On Fri, 6 Sept, 4:01 PM UTC
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Donald Trump has found a role for Elon Musk in the US government - Times of India
Donald Trump has announced that if he is elected the President of the US, he will create a government efficiency commission - an idea that was pushed by billionaire Elon Musk - adding that the Tesla CEO will be its chief, a report has said. "We need to do it. Can't go on the way we are now," Trump said in a speech to the Economic Club of New York, a group of executives and industry leaders, as per news agency AP, via The New York Times. He also talked about proposals to slash regulations and boost energy production, adopt cryptocurrencies and drastically cut government spending as well as corporate taxes for companies that produce in the US.Trump also promised to cut 10 government regulations for every new regulation implemented. What the government efficiency commission will do As per Trump, the government efficiency commission will be "tasked with conducting a complete financial and performance audit of the entire federal government." The Republican presidential nominee claimed that in 2022, "fraud and improper payments alone cost taxpayers an estimated hundreds of billions of dollars." The commission, he said, will recommend "drastic reforms" and develop a plan to eliminate fraud and improper payments within six months, which he claimed will save "trillions of dollars". What Elon Musk has to say Musk has 'accepted the role' and posted about it on X. "I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed," Musk wrote on X. Musk has been a strong supported of Trump having promoted the former US President on the social media platform he own. The CEO of Tesla and SpaceX has become an increasingly vocal supporter of Trump's bid to return to the White House. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.
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Musk role in a Trump presidency raises conflict-of-interest questions
Elon Musk's enthusiasm for Donald Trump is stretching from politics to policy -- and raising conflict-of-interest questions. Musk has agreed to lead a government efficiency commission if Trump is re-elected president, Trump said in a speech on Thursday. "If he has the time," Trump added, Musk would be a good choice. The alliance shows that Musk, one of the world's richest people and head of several businesses, not only is interested in getting Trump elected, but also wants to actively participate in influencing federal policy. The commission would conduct an audit of the entire federal government and make recommendations for drastic reform, Trump said. That would give Musk influence over the same agencies that regulate his multibillion-dollar portfolio of companies, including the electric-vehicle maker Tesla and the rocket company SpaceX. On Thursday, Musk said on X that he would "look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed." Trump and Musk have grown closer in recent months. Musk officially endorsed Trump on July 13 after the former president survived an assassination attempt at a campaign rally. The Wall Street Journal earlier this year reported that Musk and Trump had discussed a possible advisory role for Musk in a Trump administration, which Musk later denied. In July, the Journal reported Musk had told people he planned to contribute around $45 million a month to the Trump-supporting America PAC. Musk later said on X that he is donating at a "much lower level." Last month, Musk interviewed Trump in a conversation streamed on X, during which Trump embraced the billionaire entrepreneur's suggestion to form a commission tackling government spending as a way to address inflation. "You're the greatest cutter," Trump told Musk, referencing layoffs at his companies. "I mean, I look at what you do." The announcement marks a deepening of Musk's foray into politics, from endorsing and advocating for Trump to engaging in policy. Musk previously served on presidential advisory groups during Trump's first term but quit them in 2017 after disagreeing with Trump's decision to pull the U.S. out of the Paris climate agreement. Despite occasional donations to both political parties over the years, Musk rarely weighed in on politics, until recent years. Musk wouldn't be the first business executive to get involved in the U.S. government, and it isn't unusual for business leaders to join advisory groups. How exactly Musk would handle running his empire while also leading a government efficiency commission is unclear. Some Tesla investors have argued that Musk is already spread too thin and has spent too much time working at the social-media site X and the artificial-intelligence startup xAI while Tesla is struggling to grow. As for conflicts, "Musk's business interests are so broad and so intermingled with the federal government," said Kathleen Clark, a law professor at Washington University in St. Louis who specializes in government ethics, "it's hard to imagine guardrails that could address his conflicts." Musk's companies are regulated by several federal agencies. In some cases, such as with Tesla and the Securities and Exchange Commission, the relationship is contentious. Tesla's vehicle sales and its energy business also have benefited from federal tax credits and grants issued by various government departments. SpaceX's most important customers include the National Aeronautics and Space Administration, which relies on the rocket company to transport astronauts to the International Space Station, and the Pentagon, which uses SpaceX to launch national-security satellites. Musk's social-media platform X is regulated by the Federal Trade Commission, and his brain-implant startup Neuralink is regulated by the Food and Drug Administration. A lot depends on the details of any setup, said Richard Briffault, a professor at Columbia Law School who focuses on government ethics. "If he's going to be proposing guidelines that direct government contracting in favor of his own companies, that's a real problem," he said. "If it's a more general set of principles that are designed to improve government efficiency or streamline the contracting and grant-making process, it's hard to object to that."
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Former US President Donald Trump has expressed interest in involving Elon Musk in his potential future administration, sparking discussions about potential conflicts of interest given Musk's extensive business empire.
Former US President Donald Trump has recently hinted at a potential role for tech billionaire Elon Musk in his future administration, should he win the 2024 presidential election. During a CNBC interview, Trump praised Musk's business acumen, stating, "I think he'd be good. I think we'd want him to do something having to do with space, having to do with rockets, having to do with a lot of things" 1.
Trump's consideration of Musk for a government position stems from the latter's extensive experience in the space and technology sectors. As the founder and CEO of SpaceX and Tesla, Musk has demonstrated significant prowess in innovation and business leadership. Trump emphasized Musk's ability to "do a good job" in areas related to space exploration and rocket technology 1.
However, the prospect of Musk taking on a government role has raised significant concerns about potential conflicts of interest. Musk's vast business empire, which includes major companies like Tesla, SpaceX, and X (formerly Twitter), could create complex ethical and legal challenges if he were to assume a position of public authority 2.
This situation draws parallels to previous instances where wealthy businesspeople have taken on government roles. The Trump administration itself faced scrutiny over potential conflicts of interest, particularly regarding the former president's business holdings. Legal experts suggest that Musk's case could be even more complex due to the scale and diversity of his business interests 2.
If Musk were to accept a government position, he would likely need to divest from his companies or place his assets in a blind trust. However, given the public nature of his businesses and his personal brand's close association with them, achieving true separation could prove challenging. Ethics experts emphasize the importance of maintaining public trust and avoiding even the appearance of conflicts of interest in government roles 2.
This development highlights the ongoing debate about the role of business leaders in government and the challenges of managing potential conflicts of interest. As the lines between business and politics continue to blur, future administrations may need to grapple with these issues more frequently, potentially leading to new policies or guidelines for appointees with significant business holdings.
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Former President Donald Trump expresses interest in consulting Elon Musk on AI policy, but doubts a formal cabinet position due to Musk's business commitments. The potential collaboration highlights the increasing importance of AI in government policy.
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7 Sources
Former President Donald Trump expresses openness to appointing Elon Musk to a cabinet position, praising his intelligence. Trump also suggests potential changes to electric vehicle tax credits if re-elected.
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Elon Musk suggests using a potential role in a Trump administration to push for national autonomous vehicle regulations, raising questions about the intersection of business interests and politics.
2 Sources
2 Sources
Elon Musk's recent endorsement of Donald Trump contrasts with Tesla's ongoing efforts to secure government subsidies, highlighting a complex relationship between the CEO's personal views and his company's business strategies.
2 Sources
2 Sources
Tech billionaires, led by Elon Musk, are playing a significant role in Donald Trump's presidential transition, influencing policy decisions and government appointments. This unprecedented involvement raises questions about potential conflicts of interest and the future direction of US technology policy.
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3 Sources
