Impact of Musk project on cost-cutting is much less than he claims – report

Associated Press analyzed canceled government contracts and found that 40% will produce no savings

• US politics - live updates

Elon Musk's cost-cutting bonanza appears to be having less impact than the world's richest man is claiming, with a review finding that almost 40% of the federal contracts scrapped so far will save the American taxpayer not a penny.

The Associated Press put under the microscope a list of 1,125 federal government contracts that Musk's department of government efficiency" (Doge) boasted it had torn up in the first month of the new Trump administration. The news agency found that of those, 417 were likely to produce no savings to the federal budget.