President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead his administration's new Department of Government Efficiency, or DOGE, to end "government waste" and "slash excess regulations.

In a Sept. 5 speech, Trump pitched the idea of a government efficiency commission to the Economic Club of New York.

Elon Musk and Vivek Ramaswamy will lead the new Department of Government Efficiency (DOGE) without pay, Musk confirms, in response to critics of the controversial announcement.