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Musk team now has access to US' payment system
Financial Express Delhi
|February 03, 2025
System sends out over $6 TRN per year
THE DEPARTMENT OF Government Efficiency, run by President Donald Trump's billionaire adviser and Tesla CEO Elon Musk, has gained access to sensitive Treasury data, according to two people familiar with the situation.
The system sends out more than $6 trillion per year in payments on behalf of federal agencies and contains the personal information of millions of Americans who receive Social Security payments, tax refunds and other monies from the government.
The move by DOGE, a Trump administration task force assigned to find ways to fire federal workers, cut programs and slash federal regulations, means it could have wide leeway to access important taxpayer data, among other things.
The New York Times first reported the news of the group's access to the massive federal payment system.
यह कहानी Financial Express Delhi के February 03, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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Homebound in Oscars shortlist for best international feature
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Bondi shooter came to Hyderabad for nikah in 2001, with son later
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OpenAI in talks to raise $10 billion from Amazon
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States’ fiscal deficit rises to 3.2% in FY25: Icra
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EVs get policy push, hybrids lose
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RBI guv signals rates to stay low
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1 min
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Debt reduction key focus: FM
IT COULD COME in handy for the government which is facing a potential tax revenue shortfall compared with the Budget Estimate, and a possible dip in tax buoyancy in the near term, on account of massive the reliefs offered to taxpayers in terms of income tax and GST reductions.
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Speciale Invest set to raise ₹1,400-cr fund
Bengaluru- based VC firm prepares fund to Back deep-tech firms
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