Howard Lutnick's remarks came in response to concerns over whether the spending cuts advocated by Elon Musk's Department of Government Efficiency (DOGE) might lead to a recession.
Commerce Secretary Howard Lutnick plans to make an internet infrastructure investment program “technology-neutral,” according to The Wall Street Journal, meaning Elon Musk’s Starlink could more easily benefit.
Sen. Elizabeth Warren (D-Mass.) on Monday questioned Secretary of Commerce Howard Lutnick over the access tech billionaire Elon Musk’s Department of Government Efficiency (DOGE) has to his competitors and business partners.
Commerce Secretary Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.
Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.
Elon Musk wants to privatize the United States’ Postal Service and Amtrak, he said on Wednesday. It’s “kind of embarrassing” how other countries have “way better passenger rail than we do,” like China’s bullet trains,
Commerce Secretary Howard Lutnick wants to separate government spending from GDP, which economists worry could lead to cherry-picking data for political gain.
The stock market dropped sharply in recent days as investors worried about the effects of new tariffs on Canada and Mexico by President Trump.
The Commerce Department has changed its rules in a way that could open the door for Starlink, Elon Musk’s satellite internet service, to become part of a federal $42 billion grant program to bring high-speed service to rural and poor areas of the United States.
Government spending is tied up with consumer and business spending. Not reporting it as part of GDP would breach global accounting standards.
A planned Republican-led overhaul of the $42.5 billion federal broadband expansion program could channel up to $20 billion to Elon Musk's Starlink.