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.

The two wealthy entrepreneurs will lead what the president-elect called the Department of Government Efficiency, which he said would seek “drastic change.” But the announcement left a lot unanswered.

These two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” said Donald Trump in a statement.