Federal contractors ought to anticipate “massive cuts” in what they’ll cost as soon as President-elect Donald Trump’s authorities effectivity drive is underway, in line with entrepreneur Vivek Ramaswamy, who will co-lead the initiative with billionaire Elon Musk.
“There is massive waste, fraud and abuse right now,” Ramaswamy stated on Fox Information’ Sunday Morning Futures. “Federal contractors are really exploiting the federal government.”
Trump stated final week that the brand new panel — often known as the Division of Authorities Effectivity — would work with the White Home’s Workplace of Administration and Finances to dismantle paperwork, slash rules, minimize wasteful spending and restructure federal companies.
“We expect certain agencies to be deleted outright,” Ramaswamy stated. “We expect mass reduction in force in areas of the federal government that are bloated. We expect massive cuts among federal contractors and others who are overbilling the federal government.”
Ramaswamy didn’t single out any contractors, and isn’t clear but how the effectivity drive shall be structured.
If Musk and Ramaswamy are placed on a federal advisory committee, they’d be topic to ethics legal guidelines requiring them to recuse themselves from discussions and choices affecting them personally. SpaceX, Musk’s rocket firm, has greater than $15 billion in federal contracts.
