Federal contractors should expect “massive cuts” in what they can charge once President-elect Donald Trump’s government efficiency drive is underway, according to entrepreneur Vivek Ramaswamy, who will co-lead the initiative with billionaire Elon Musk, Business Standard reports.
“There is massive waste, fraud and abuse right now,” Ramaswamy said on Fox News’ Sunday Morning Futures. “Federal contractors are really exploiting the federal government.”
“We expect certain agencies to be deleted outright,” Ramaswamy said. “We expect mass reduction in force in areas of the federal government that are bloated. We expect massive cuts among federal contractors and others who are overbilling the federal government.”
If Musk and Ramaswamy are put on a federal advisory committee, they’d be subject to ethics laws requiring them to recuse themselves from discussions and decisions affecting them personally. SpaceX, Musk’s rocket company, has more than $15 billion in federal contracts.
