Trump names Elon Musk and Vivek Ramaswamy to lead new government efficiency department

President-elect Donald Trump announced the creation of a new "Department of Government Efficiency," to be led by Elon Musk and Vivek Ramaswamy. This department aims to reduce government bureaucracy, cut regulations, and eliminate wasteful spending. Musk and Ramaswamy's roles raise concerns about potential conflicts of interest, especially since Musk's companies have government contracts. The department's operational details remain unclear, but it is expected to provide external advice to streamline federal agencies. Trump previously proposed a government efficiency commission, emphasizing the need to eliminate fraud and improper payments. The department's work is set to conclude by July 4, 2026, coinciding with the 250th anniversary of the Declaration of Independence.