US Treasury Secretary Scott Bessent reassured taxpayers that their private data is secure as Elon Musk’s Department of Government Efficiency (DOGE) works to enhance federal government efficiency. During a Fox News interview, Bessent noted that the DOGE team has identified approximately $50 billion in potential savings so far, calling it a “very good start.” He suggested that this cost-cutting initiative could ultimately save “several percent of GDP.”
Bessent emphasized that Americans need not worry about the team’s efforts to access taxpayer data, which has raised privacy concerns among Democratic lawmakers. Although the DOGE team is seeking this data, they have not yet gained access. He mentioned that one individual at the Internal Revenue Service is focused solely on an outdated IT system, while two Treasury employees have “read-only access” to payment systems, meaning they cannot make changes. “There are very strict guardrails around them,” he stated.
Senate Democrats have criticized Bessent for what they perceive as a lack of transparency regarding the activities of DOGE workers with US payment systems. Recently, the newly-formed DOGE gained access to the Treasury’s payment system, leading to the abrupt departure of a senior civil servant who attempted to block this move. Additionally, attorneys general from 19 states and three labor unions have filed lawsuits to prevent DOGE from accessing this sensitive system.
In a separate discussion, Bessent expressed optimism that Ukraine’s President Volodymyr Zelenskiy would sign an economic partnership agreement with the US in exchange for support against Russia. This proposal aims to strengthen economic ties between the Ukrainian and American people. Bessent noted that President Trump wants to demonstrate US support for Ukraine while ensuring taxpayers see a return on the funds already sent to the country. The agreement would empower Trump to negotiate with Russian President Vladimir Putin from a stronger position.
Bessent’s remarks followed his recent visit to Kyiv, where he presented an economic partnership agreement essential for continued US support. The Trump administration has indicated that it expects Ukraine to provide access to resources, including critical minerals, and commit to purchasing US energy exports in return for military and economic assistance against Russia, which invaded Ukraine in February 2022.
