JPMorgan Chase CEO Jamie Dimon praised Elon Musk’s plan for a authorities effectivity fee, calling it a “excellent concept” whereas highlighting the necessity for heightened authorities accountability.
In an interview with CNBC-TV18 on the India Investor Summit, Prashant Nair introduced up Musk’s proposal for an effectivity job drive to audit the federal authorities.
“So Elon, this concept about having an effectivity fee, I truly like the thought. I feel governments need to develop into extra environment friendly, extra competent and have a look at after they take cash what do they get for it?” Dimon stated. “I truly suppose it’s an excellent concept.”
Dimon stated the thought reminded him of Al Gore’s “Reinventing Authorities” initiative launched in 1993 to make the federal authorities “work higher.”
“We actually must do it. In America, we’ll do it, I’m certain,” Dimon added. “A whole lot of the opposite international locations must do the identical factor.”
His remark comes lower than a month after former President Trump endorsed Musk’s proposal for a authorities effectivity job drive, revealing that he would appoint the billionaire entrepreneur to guide the panel if elected president.
The federal government effectivity fee would conduct a monetary and efficiency audit of the federal authorities and would look to trace down fraud and improper funds created from authorities packages. It could then present suggestions for “drastic reforms” aimed toward selling effectivity, Trump stated, with the objective of eliminating fraud and improper funds inside six months of the fee being shaped.
The Tesla CEO acknowledged his settlement to serve on the fee, writing on X that, “I look ahead to serving America if the chance arises. No pay, no title, no recognition is required.”
Musk first urged the creation of a authorities effectivity fee final month throughout a dialog he hosted with the previous president on X after endorsing him for president. He went on to precise an curiosity in contributing to its efforts and stated, “I’d be pleased to assist out on such a fee.”
Politicians and trade leaders have pushed for presidency effectivity commissions up to now. Republican President Ronald Reagan established an identical physique whereas he was in workplace from 1981 to 1989 known as the Grace Fee.
However not everybody helps the implementation of the duty drive.
Everett Kelley, president of the American Federation of Authorities Workers, a union that represents 750,000 federal employees, accused Trump and Musk of desirous to intestine the federal authorities’s nonpartisan civil service to switch fired employees with their allies.
“There’s nothing environment friendly about that,” Kelley instructed Reuters.
Fox Enterprise’ Eric Revell contributed to this report.
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