The billionaire CEO of Tesla says there is a good shot of cutting at least $1 trillion from federal government expenditures.

Tech billionaire Elon Musk said Wednesday that his budget-cutting effort on behalf of President-elect Donald Trump would most likely not find $2 trillion in savings, backtracking on a goal he set earlier as co-head of a new advisory body,

DOGE will not be the first effort to bring a “business perspective” to government reform. For decades, presidents have convened similar groups, composed of corporate and public-sector leaders, to streamline federal operations and crack down on waste,