Musk, Ramaswamy plan to lean on Supreme Court rulings to reduce federal agencies reach

(Reuters) - Elon Musk's government efficiency panel said in a Wall Street Journal opinion story on Wednesday that they will apply recent Supreme Court rulings that can be used to take power away from federal agencies to reduce rules the panel finds unnecessary, costly and inefficient.

Musk, the billionaire CEO of Tesla (NASDAQ:TSLA ) and SpaceX, and Ramaswamy, a former Republican presidential candidate and the founder of biotechnology firm Roivant Sciences (NASDAQ:ROIV ), have been tasked by President-elect Donald Trump to lead the Department of Government Efficiency (DOGE).

Many current federal regulations may exceed the legislative power granted by Congress, they said, citing two Supreme Court cases — 2022's West Virginia v. Environmental Protection Agency and this year's Loper Bright v. Raimondo. DOGE will look for such regulations, they added.

Given the clear electoral mandate and the 6-3 conservative majority in the Supreme Court, DOGE is presented with an opportunity to enact substantial structural downsizing within the federal government, they said.



"DOGE will present this list of regulations to President Trump, who can, by executive action, immediately pause the enforcement of those regulations and initiate the process for review and rescission," Musk and Ramaswamy wrote.

They stated that a partnership with the Trump transition team was underway to hire a team of "small-government crusaders", which will work with the White House Office of Management and Budget.

Source: Investing.com

Последние публикации
China's Baidu posts 3% fall in third-quarter revenue, meeting market view
21.11.2024 - 11:00
Palo Alto Networks beats Q1 estimates, delivers in-line guidance; shares down
21.11.2024 - 11:00
Commerzbank names new CFO amid UniCredit approach
21.11.2024 - 11:00
JD Sports shares plunge as profit guidance cut amid weaker consumer demand
21.11.2024 - 11:00
Baidu reports 3% third-quarter revenue decline, stock slides
21.11.2024 - 11:00
Nvidia's supply snags limit deliveries even as demand booms, shares down
21.11.2024 - 11:00
Indian opposition calls for Adani probe, Modi's BJP questions timing of US indictment
21.11.2024 - 11:00
Indonesia stocks lower at close of trade; IDX Composite Index down 0.17%
21.11.2024 - 10:00
Nvidia reports solid Q3, stock down as guidance underwhelms lofty expectations
21.11.2024 - 10:00
Japan stocks lower at close of trade; Nikkei 225 down 0.97%
21.11.2024 - 09:00
Nvidia earnings: analysts upbeat even as guidance underwhelms
21.11.2024 - 09:00
Starbucks weighs strategic partnerships for China operations
21.11.2024 - 09:00
US hedge funds pile into China's JD.com, GDS: Goldman
21.11.2024 - 08:00
Taiwan stocks lower at close of trade; Taiwan Weighted down 0.70%
21.11.2024 - 08:00
Asian stocks stutter as Nvidia's forecast disappoints
21.11.2024 - 08:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?