Donald Trump unveils economic vision headed by Elon Musk if elected as president in November

NEW YORK CITY, NEW YORK: Donald Trump announced on Thursday, September 5, that he would establish a government efficiency commission which will be led by Elon Musk if elected in the upcoming November election.

The announcement was made during a speech to the New York Economic Club where the former president outlined his broader economic vision for the country.

Donald Trump's government efficiency commission

Donald Trump has reportedly been discussing the idea of a government efficiency commission with his aides for weeks, according to Reuters.

However, this speech marked the first time the Republican presidential candidate publicly endorsed the concept and revealed that Elon Musk had agreed to lead the body.

“I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms,” said Trump.

He highlighted that the commission would be responsible for developing a plan to eliminate "fraud and improper payments" within six months of its formation.

However, Trump did not provide detailed specifics on how the commission would operate.

Elon Musk's involvement in the commission

Tech billionaire Elon Musk expressed his willingness to participate in the commission in a recent statement on X.

He confirmed that he had been in discussions with Trump about the commission and noted that he was interested in serving if given the opportunity.

"I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed," said Musk.

Agreeing with the efficiency commission, he reshared a video of Trump's announcement of the government efficiency commission on Thursday, September 5 and tweeted, "This is badly needed."

The Tesla CEO had also mentioned his potential involvement in the commission during a podcast on August 19 where he expressed his readiness to serve the country in this capacity.

Donald Trump's plans for tax cuts and housing initiatives

During his New York speech, Donald Trump reiterated his plan to reduce corporate tax rate to 15% from the current 21%, specifically targeting companies that manufacture domestically. This proposal aims to incentivize businesses to keep manufacturing jobs within the United States.

In addition to tax cuts, the 78-year-old politician proposed opening up federal land to homebuilding as a strategy to reduce housing costs.

Without elaborating on the specifics, he described these new housing zones as "low tax" and "low regulation" areas.

"We're going to open up our country to building homes inexpensively, so young people and other people can buy homes,” said Trump.