Former U.S. President Donald Trump has floated a new tax reduction plan that could see 20% of the savings from Elon Musk’s Department of Government Efficiency (DOGE) returned to American taxpayers. Trump announced at a finance and tech summit in Miami, hosted by Saudi Arabia’s sovereign wealth fund.
Trump’s Proposal: Tax Rebates from DOGE Savings
Speaking at the summit, Trump suggested that a portion of DOGE’s cost-cutting measures—estimated at $55 billion—could be distributed to American citizens.
Trump stated:
“Under consideration [is] a new concept where we give 20% of the DOGE savings to American citizens.”
In addition, another 20% of the savings would be allocated to paying down the national debt, which now exceeds $36 trillion. The DOGE program, launched under Musk’s leadership, has reportedly saved billions by canceling government contracts and laying off government employees.
Key Takeaways from Trump’s Proposal:
- 20% of DOGE savings returned to taxpayers as a tax rebate
- 20% of DOGE savings allocated toward reducing the national debt
- Musk pitched a tax reduction tied to DOGE savings
How Much Would Taxpayers Receive?
If DOGE’s claimed $55 billion in savings is accurate, distributing 20% to taxpayers would amount to $11 billion. With 163.1 million taxpayers (per the IRS), each would receive approximately $67.50.
Meanwhile, using $11 billion to pay down the national debt would only reduce 1.3% of the U.S. government’s $839.5 billion deficit for the current fiscal year.
Accuracy of DOGE’s Savings Claims Questioned
Despite DOGE’s claim of saving $55 billion, concerns have been raised about the accuracy of the reported figures.
A New York Times investigation (Feb. 18) found:
- The DOGE website listed an $8 billion contract cancellation, which was actually worth only $8 million.
- The 1,000 canceled contracts and leases listed on the site represent only a “subset” of DOGE’s total reported savings.
Following these reports, DOGE responded on Feb. 19, clarifying that it had always used the correct $8 million figure in its official calculations.
Trump Declares the ‘War on Crypto’ Over
During the same speech, Trump also addressed crypto regulation, claiming his recent executive order has officially ended the Biden administration’s “war on Bitcoin and crypto.”
Trump stated:
“We ended that war totally. That war is over. They were very hostile toward them until the very end.”
What’s in Trump’s Crypto Executive Order?
In January 2025, Trump signed an executive order aimed at establishing a pro-crypto regulatory framework in the U.S. The order included:
- A White House-led Crypto Working Group, chaired by AI and crypto policy expert David Sacks
- Plans to regulate stablecoins and develop a legal framework for crypto
- A study on creating a U.S. government-controlled crypto stockpile
Trump’s latest remarks reinforce his increasingly pro-crypto stance as he gears up for the 2024 U.S. presidential election.
Final Thoughts
Trump’s proposal to use DOGE savings for tax rebates is a bold move, but questions remain about the accuracy of the reported savings and the true impact on taxpayers and the national debt. Meanwhile, his commitment to crypto-friendly policies signals a significant shift from the Biden administration’s stricter regulatory stance.
As the 2024 election race intensifies, Trump’s tax rebate plan and crypto policies could play a key role in winning over voters—especially those in the crypto and financial sectors.
Related: Price analysis 1/22: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, XLM, and SUI
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
I believe that Web3 is not only a technological shift but a cultural and creative one. Strong ideas, thoughtful communication, and human-centered design will shape which technologies thrive and how communities evolve around them. My writing and research reflect this belief, focusing on clarity, relevance, and long-term perspective.
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