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USA Today
09-06-2025
- Business
- USA Today
Why Elon Musk left DOGE? DOGE dividend check status 2025: Here's how much money DOGE saved
Why Elon Musk left DOGE? DOGE dividend check status 2025: Here's how much money DOGE saved Show Caption Hide Caption Elon Musk officially departs Trump administration Elon Musk is leaving the Trump administration as his allotted 130 days as a "special government employee" ends. Special government employee Elon Musk announced he's leaving the Department of Government Efficiency. But, what does that mean for the DOGE savings and possible dividend checks in 2025? The world's richest man tweeted on Wednesday night, "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President Trump for the opportunity to reduce wasteful spending. The DOGE mission will only strengthen over time as it becomes a way of life throughout the government." While Musk plans to return to focus on his many businesses, including Tesla and SpaceX, the Trump administration told news officials, "Musk left on good terms and is still friends with the president. This isn't a separation, but just a return to the private sector for Musk. He will continue to be a friend to the president, and we can characterize that as an 'adviser.'" Top Musk lieutenant Steve Davis, adviser Katie Miller and DOGE general counsel James Burnham are all reported to be leaving DOGE as well. The mission of DOGE was to slash federal spending, speed deregulation and "modernize federal technology and software to maximize governmental efficiency and productivity." At the time it was introduced, DOGE's effort was to save as much as $2 trillion a year. Here's what this all means for DOGE's future, the savings and status on possible dividend refund stimulus checks for 2025. Who will head DOGE after Musk departure? White House press secretary Karoline Leavitt said Thursday that others in the administration will be left in charge of DOGE, "the DOGE leaders are each and every member of the president's Cabinet and the president himself, who is wholeheartedly committed to cutting waste, fraud and abuse from our government." How much money has DOGE saved? According to the Department of Government Efficiency website, it cites an estimated $175 billion — approximately $1,087 per individual federal taxpayer — in savings through their cuts and reductions in government spending and proof in their "Wall of Receipts." Albeit, only $70 billion is itemized thus far, raising doubts about accuracy. What is the DOGE dividend check proposal? The author of the DOGE dividend check proposal was John Fishback. His four-page proposal of the 'DOGE dividend' described it as a refund "sent only to tax-paying householders." Noting the difference from past stimulus checks, he added that DOGE checks would not be inflationary as they would be "exclusively funded with DOGE-driven savings, unlike COVID stimulus checks which were deficit-financed." The idea was originally floated by Fishback on Musk's social media platform X, suggesting Trump and Musk "should announce a 'DOGE Dividend' — a tax refund check sent to every taxpayer, funded exclusively with a portion of the total savings delivered by DOGE." Musk replied "Will check with the President." Fishback's proposal would send checks only to households above a certain income level as opposed to pandemic-era checks that were sent 'indiscriminately.' 'A lot of low-income households essentially saw transfer payments of 25% to 30% of their annual … income,' Fishback said of the pandemic stimulus checks, adding, 'This exclusively goes to households that are net-payers of federal income tax, and what that means is that they have a lower propensity to spend and a higher propensity to save a transfer payment like the DOGE dividend.' "I'm honored to have the president's support, but the plan is very simple," Fishback said. "DOGE is going to save X amount of money over the next couple of years. Let's take 20 percent of that and send it right back to the hard-working taxpayers who sent it to D.C. in the first place." By definition, a dividend is a distribution of profits by a corporation to its shareholders and refund is a payment made back to a user who previously paid for something. A stimulus check on the other hand, is a direct payment to encourage spending and stimulate the economy by putting money directly into the consumers' hand. What are the qualifications for possible DOGE check? The potential refund would be sent only to households that are net-income taxpayers — people who pay more in taxes than they get back — with lower-income Americans not qualifying for the return, according to news reports. The Pew Research Center cites most Americans who have an adjusted gross income of under $40,000 pay effectively no federal income tax. The proposed DOGE refund check would be issued per household, rather than to each individual taxpayer, including those receiving Social Security benefits that meet the income tax requirements. What is the status on possible DOGE dividend?
News18
07-06-2025
- Business
- News18
Who Is James Fishback? DOGE Architect Quits Initiative After Musk-Trump Row
Last Updated: Fishback, the key figure behind the 'DOGE checks' initiative, has announced his departure from the project James Fishback, the key figure behind the 'DOGE checks" initiative, has announced his departure from the project, citing billionaire Elon Musk's criticism of US President Donald Trump as the reason. In a lengthy post on X Saturday, Fishback said he was 'disappointed" by Musk's behaviour and demanded an apology to Trump and his family. He wrote, 'I believed in Elon Musk's vision to shrink government and make it work better for Americans. I'm proud of the DOGE Dividend proposal I developed and will keep working with the administration to return savings to taxpayers." I believed in Elon Musk's vision to shrink government and make it work better for Americans. I'm proud of the DOGE Dividend proposal I developed and will keep working with the administration to return savings to truth is that Elon set expectations that he relayed… — James Fishback (@j_fishback) June 6, 2025 He also expressed concern over Musk's actions, stating, 'Elon set expectations that he relayed to the President, me, and the country that he did not come close to fulfilling. That's disappointing, but okay. What's not okay is his baseless personal attacks against President Trump." Calling Trump a 'once-in-a-century leader," Fishback praised the US president's leadership and patience, especially in light of Musk's public comments. 'It's time for Elon to apologize to the President and his family, cool off, and get back to work on inventing the future at Tesla and SpaceX," he added. Who Is James Fishback? Fishback is also known for founding Incubate Debate, the fastest-growing high school debate league in the US. A former national debate champion himself, he launched the initiative in 2019. The idea for the 'DOGE Dividend" reportedly came to him in a dream. He had told Newsweek that he quickly drafted the concept with Azoria's head of research. Although he never officially joined the DOGE project, the proposal was endorsed by Musk and gained interest from Trump, who supported the idea of a citizen dividend scheme.
Time of India
07-06-2025
- Business
- Time of India
Who is James Fishback? Doge architect steps away the moment Musk feuds with Trump; says 'it's time for Tesla CEO to apologize'
James Fishback James Fishback, the principal architect of the "DOGE checks" initiative, announced on Friday his withdrawal from the movement following Elon Musk's criticism of Donald Trump and demanded that Tesla CEO apologise to the President. "I believed in Elon Musk's vision to shrink government and make it work better for Americans. I'm proud of the DOGE Dividend proposal I developed and will keep working with the administration to return savings to taxpayers." Fishback said. "The truth is that Elon set expectations that he relayed to the President, me, and the country that he did not come close to fulfilling. That's disappointing, but okay. What's not okay is his baseless personal attacks against President Trump," he added. Praising President Trump, Fishback said that he is a once-in-a-century leader. He also said that the president won the popular vote, the Electoral College, and all seven swing states by championing the priorities in his Big Beautiful Bill which Musk said that he wants to 'kill.' President Trump has shown grace and patience at a time when Elon's behavior is disappointing and frankly downright disturbing, Fishback said and demanded aplology from Musk. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 BHKs starts at ₹ 72.6 Lakh | No Floor rise | Zero PLC Mahindra Happinest Tathawade Get Quote Undo He said, "It's time for Elon to apologize to the President and his family, cool off, and get back to work on inventing the future at Tesla and SpaceX." Who is James Fishback? The founder of the investment firm, aged 30, was raised by a bus driver and a Colombian immigrant. He left Georgetown University to start a hedge fund when he was 21, as reported by MarketWatch. According to the LinkedIn profile, in his professional journey includes working at Greenlight Capital in 2021, followed by establishing Azoria in 2023, where he currently holds the CEO position. Additionally, he leads Incubate Debate, a non-profit organisation helping secondary school students develop debating skills. Currently, he is involved in legal proceedings with Greenlight Capital. The company claims he misrepresented his position, whilst he has filed a countersuit for defamation. In December, he visited Trump's Mar-a-Lago to introduce Azoria Meritocracy ETF, which aims to invest in S&P 500 companies avoiding diversity, equity and inclusion practices. He has connections with former DOGE representative Vivek Ramaswamy and appeared on his podcast in November, Newsweek reported. Regarding the origin of the "DOGE Dividend" proposal, he revealed to Newsweek that the concept occurred to him during sleep. He stated, "It came to me in a dream. I woke up and called our Head of Research at Azoria, and we drafted the proposal during a two-hour lunch at Capital Grille." His "DOGE Dividends" concept aligns with his broader perspective of governmental rewards for citizens who identify wasteful expenditure. He stated, "... DOGE can save even more and as a result deliver an even bigger DOGE Dividend check to hard-working Americans." The proposal indicates that approximately 79 million American households could receive direct payments for reporting inefficiencies, potentially leading to increased savings. Sceptics suggest that while the plan is ambitious, it could potentially increase inflation and might be perceived as politically motivated rather than genuine financial reform. Fishback, who established a self-described "free thinking" investment company, rose to prominence amongst conservatives when he suggested distributing $5,000 stimulus payments to American taxpayers, which would be funded through DOGE's anticipated government savings. Despite never officially becoming part of DOGE, Fishback's "DOGE checks" concept received endorsement from Musk on X and caught Trump's attention, who showed interest in a "DOGE dividend." In December, Fishback introduced his anti-woke investment fund at Trump's Mar-a-Lago estate.
Newsweek
03-06-2025
- Business
- Newsweek
Donald Trump Stimulus Check 2025: What Musk Exit Means for DOGE Dividend
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The future of the proposed $5,000 "DOGE Dividend" stimulus check faces uncertainty following Elon Musk's departure from the Trump administration and the end of his tenure at the Department of Government Efficiency (DOGE). Musk announced his exit in late May, as the 130-day legal limit on special government employees approaches and concerns continue to mount over the impact of his government role on his business ventures. President Donald Trump has confirmed that his administration will continue DOGE's central mission to root out "waste, fraud and abuse" from federal spending. What Is the DOGE Dividend? The "DOGE Dividend" was initially proposed as a one-time payment of $5,000 for eligible taxpayers. This "tax refund check," the brainchild of Azoria CEO James Fishback, was to be funded with 20 percent of the $2 trillion in federal budget cuts Musk said could be achieved back in October, meaning around $400 billion split between 79 million taxpaying households. Fishback's idea received support from Musk and the tacit endorsement of Trump, who told attendees at an investment conference in February: "We're thinking about giving 20 percent back to the American citizens." Elon Musk, wearing a DOGE hat, speaks to reporters in the Oval Office of the White House on May 30, 2025. Elon Musk, wearing a DOGE hat, speaks to reporters in the Oval Office of the White House on May 30, revealed strong cross-party support for the idea, with 79 percent of Republicans and 60 percent of Democrats in favor. Additionally, 24 percent of Democrats and 29 percent of independents said receiving the check would make them more likely to vote for a Republican congressional candidate. However, in an interview with Newsweek, Fishback acknowledged that the eventual payments would depend on the actual level of savings achieved by DOGE and could be under the initially proposed figure. According to the calculations laid out by Fishback in February, the $175 billion in savings DOGE claims to have achieved would result in checks of just $2,200 per household if these were sent out today. Newsweek reached out to Fishback and the White House via email for comment. Savings Fall Short of Targets As of Musk's departure, DOGE has reported $175 billion in savings through contract cancellations, the identification of fraud and improper payments, as well as workforce reductions. This represents a fraction of the $2 trillion goal originally envisioned by Musk, a figure that the Tesla CEO has walked back several times. Numerous questions have been raised about the accuracy of the "wall of receipts" posted on DOGE's website and whether these cuts will result in savings. Analysis from the nonpartisan Partnership for Public Service recently found that the actions of DOGE could result in expenditures of $135 billion this fiscal year, due to the costs of lost productivity, rehirings and putting certain employees on paid leave. Legislative and Economic Hurdles There has been little information available on the status of the stimulus checks, including whether and when Americans can expect to receive them this year. In addition to the question of whether DOGE can generate enough savings to fund the checks, congressional authorization would be required for the disbursement of any government funds. However, no formal legislation has been introduced. "There's no appropriation for this," Elaine Kamarck, a senior fellow at the Brookings Institution and former official in the Clinton White House, told CNBC in February. "You cannot spend money without Congress telling you that you can spend money," Kamarck said. "That is illegal." Musk himself said that it was "up to Congress and maybe the president too" as to whether any checks would be distributed. However, the DOGE dividend has so far failed to receive sufficient backing from Republicans in Congress. "Politically that would be great for us," House Speaker Mike Johnson said of the checks at the Conservative Political Action Conference (CPAC) in February. He added, though, that the GOP's focus should remain on managing America's $36 trillion deficit—"pay down the credit card"—before considering giving savings back to taxpayers. Barring a significant upswing in legislative support, which is increasingly unlikely as Republicans grapple with the deficit-boosting implications of the One Big Beautiful Bill currently making its way through Congress, the future of DOGE stimulus is doubtful. Economists have also warned that stimulus of this kind could worsen inflation, similar to the impact of the checks distributed during the COVID-19 pandemic. "If inflation is already a concern, these checks could add fuel to the fire," financial planner Sarah Maitre told GoBankingRates in early May. What Happens Next With Musk's departure, the already weakened momentum behind the DOGE stimulus checks has waned. While Trump has not officially shelved the plan, the lack of action on Capitol Hill, combined with the gap between promised and achieved savings, leaves the future of the payment in question.
Yahoo
31-05-2025
- Business
- Yahoo
Are We Likely To Get Stimulus Checks Under Trump? What Experts Say
If you've been on social media this year, you've probably seen posts about a $5,000 DOGE stimulus check — called the DOGE Dividend — possibly coming your way. But where would the money come from, and how likely are the American people to get these checks? Read Next: Find Out: The answer to the first question is simple. The $5,000 would theoretically come from the federal savings — which, at the time the DOGE checks were first mentioned, were anticipated to be about $2 trillion — gained from the Department of Government Efficiency (DOGE). Approximately a fifth of that would go toward the 79 million Americans who pay federal income tax. As for whether stimulus checks are likely to be sent out during Trump's second term, here's what the experts say. Between 2020 and 2021, the IRS sent out a total of three stimulus checks, or Economic Impact Payments. The deadline for most taxpayers claiming the third and final payment was April 15, 2025. So, what are the chances of receiving a fourth stimulus check — or the DOGE Dividend? According to experts, it's pretty unlikely. 'There is almost no realistic scenario where Americans will get a stimulus check under Trump's current term,' said Nicholas Creel, an associate professor of business law at Georgia College and State University. 'The majorities the GOP has in the legislature are paper thin, and a significant contingent of the party is far too concerned with the deficit to allow for that sort of massive spending program any time soon.' Other experts are inclined to agree. George Carrillo, co-founder and chief executive officer at the Hispanic Construction Council and former director of social determinants of health for the state of Oregon, noted that federal stimulus checks are unlikely in the near future due to a number of factors, including inflation, budget constraints, no legislative support, no concrete action and a current lack of bipartisan support. Be Aware: Stimulus checks are used as a way to jumpstart the economy — more money in taxpayers' hands potentially means more spending. But generally speaking, these checks are a short-term solution rather than a long-term one. 'I'd equate stimulus checks to the sugar rush you get when eating a lot of candy. Yes, eating candy boosts your energy, but it is short lived and leaves you worse off in the long term,' said Creel. 'You'd be far better off in the long term eating a proper diet and exercising, but of course that's never as fun!' Carrillo added that floating around the idea of a fourth stimulus check could also be a political move on the part of President Donald Trump. 'It could be a strategic move to win favorability and maintain control of the House and Senate, as financial relief tends to resonate with voters,' he said. Just because there might not be another round of stimulus checks — at least not in the foreseeable future — doesn't mean there won't be other financial relief for those who need it. According to Carrillo, 'Some states are stepping up with their own relief programs, so there may be local options to explore.' For example, New York intends to issue a one-time 'inflation refund' check this October. Eligible taxpayers could receive between $150 and $400. New Mexico is also rolling out its own relief program. State residents who qualify could receive $500 to $1,000. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses The 10 Most Reliable SUVs of 2025 This article originally appeared on Are We Likely To Get Stimulus Checks Under Trump? What Experts Say Sign in to access your portfolio
