Federal contractors ought to anticipate “huge cuts” in what they’ll cost as soon as President-elect Donald Trump’s authorities effectivity drive is underway, in keeping with entrepreneur Vivek Ramaswamy, who will co-lead the initiative with billionaire Elon Musk.
“There may be huge waste, fraud and abuse proper now,” Ramaswamy stated on Fox Information’ Sunday Morning Futures. “Federal contractors are actually exploiting the federal authorities.”
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 Funds to dismantle paperwork, slash rules, reduce wasteful spending and restructure federal companies.
“We anticipate sure companies to be deleted outright,” Ramaswamy stated. “We anticipate mass discount in pressure in areas of the federal authorities which are bloated. We anticipate huge cuts amongst federal contractors and others who’re overbilling the federal authorities.”
Ramaswamy didn’t single out any contractors, and isn’t clear but how the effectivity drive will likely 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 selections affecting them personally. SpaceX, Musk’s rocket firm, has greater than $15 billion in federal contracts.
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