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Home Business & Finance

U.S. Congressman is attempting to take action against Elon Musk todayheadline

February 7, 2025
in Business & Finance
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U.S. Congressman is attempting to take action against Elon Musk
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Since U.S. President Donald Trump returned to the White House, Elon Musk has been busy with his own new job, taking a step back from his role as CEO of Tesla  (TSLA) .

As the head of the so-called Department of Government Efficiency (DOGE), he and his new team have been focused on tasks such as reducing government spending, though the means have sparked shock and fear throughout the federal government.

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According to reports, DOGE operatives have gained access to sensitive data, including restricted public records on millions of public officials, including members of the Treasury and State Departments. 

This has prompted questions as to the legality of DOGE’s actions — and Democrats have responded to these actions by attempting to subpoena Musk. So far, Republicans have blocked these attempts, but Democrats have recently implemented a new measure.

Elon Musk has been busy as head of Donald Trump’s Department of Government Efficiency (DOGE), but some Democrats aren’t happy with his actions.

KENA BETANCUR/Getty Images

House Democrats have a plan that Musk may take personally

It’s rare that bills are written with titles that spell out the name of a specific person but that’s exactly what’s sweeping Capitol Hill right now.

On Feb. 5, Rep. Mark Pocan (D-WI) announced that he is sponsoring a bill with a title that is hard to forget. The Eliminate Looting of Our Nation by Mitigating Unethical State Kleptocracy (ELON MUSK) Act is about to officially be introduced in the United States House of Representatives.

Related: Elon Musk’s recent decision for DOGE is raising major red flags

The title of this new legislation leaves absolutely no mystery as to what, or rather, who, it is aimed at. In introducing it, Pocan is attempting to highlight the conflicts of interest that he sees regarding Elon Musk’s new position at DOGE.

In a statement introducing the Elon Musk Act, Pocan laid out exactly why he believes this legislation is necessary, stressing the fact that Musk receives significant government contracts for SpaceX and Starlink, noting:

“No one should have the ability to direct funds towards their personal interest if they are working for the federal government. That’s why we don’t allow Members of Congress or many other federal employees to receive federal contracts. The same is even more true with a special government employee with wide authority to direct federal expenses.”

Elon Musk gets more than $20 billion in contracts from the US government and bought his way into a new role in the government where he can direct even more money to himself. Enough!

My new bill, the ELON MUSK Act, will end this grift!

Stop Elon’s grift! pic.twitter.com/4jZNOY8kdh

— Rep. Mark Pocan (@RepMarkPocan) February 5, 2025

Pocan is by no means the only one to raise these concerns. Other experts in the public policy space have argued that Musk’s position as the head of multiple private sector companies who seems to be trying to direct federal funding in ways of his choosing should be seen as a red flag.

Ben Olinsky, the senior vice president of Structural Reform and Governance at the nonpartisan Center for American Progress discussed this with TheStreet, highlighting the problems that may arise from Musk attempting to run the U.S. government like a tech startup.

There is an ethos in Silicon Valley of breaking things fast,” he states. “If you’re building a new digital product, a new website, that may work just fine, but that doesn’t work with [the] government.”

Olinsky notes, though, that the bill is unlikely to pass, given the fact that Republicans currently hold the House of Representatives. Federal employment attorney Justin Schnitzer, a managing partner at Fedelaw, echoes this perspective, noting that the bill would face legal challenges if it were to pass, though he sees it as unlikely.

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“The ELON MUSK Act’s ban could scare away expertise that agencies need for complex technical projects but would strengthen ethical safeguards and potentially reduce conflicts of interest in government contracting,” he notes.

What would the ELON MUSK Act mean for Elon Musk?

The need for a bill like the ELON MUSK Act is fairly unprecedented. After all, the U.S. government has never had a “special employee” with the combination of private sector interests and power of federal funding that Musk has amassed without even running for office.

Related: Angry Tesla owners threaten to take action against Elon Musk

An argument against the bill may be that it could stifle innovation, as it would theoretically limit the power of an industrialist like Musk with wide ranging interests. Olinsky also addressed this, highlighting the importance of considering the real world consequences for those who depend on the federal government.

“Innovation is good, but it also needs to be met with the realities of what [the] government actually does that people rely on,” he states.

Olinsky adds that he believes Musk’s conflicts of interest may be prompting him not to act in the best interests of the people. As other experts see it, The ELON MUSK Act certainly could change that, as it would eliminate any incentive on his part to direct federal funding away from areas that do not benefit him directly.

John Pelissero, Director of Government Ethics at the Markkula Center for Applied Ethics states that, “If a bill like this could pass, it would limit the influence over federal policy by those ‘special government employees’ who have multiple conflicts of interest related to their businesses’ contracts with the federal government.”

Related: Veteran fund manager issues dire S&P 500 warning for 2025

Tags: actionattemptingCongressmanElonMusktodayheadlineU.S
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