Back to today’s briefing

Story perspectives

Senate Report: Musk's $21B Waste Risks $395B IRS Loss

8/1/2025

39 2

Summary

Story summary

A shocking U.S. Senate report uncovers that Elon Musk's Department of Government Efficiency squandered over $21 billion in just six months. The fallout from mass layoffs and funding freezes not only drained resources but also risks $395 billion in lost IRS revenue, while cuts to vital aid and health programs have inflicted deep human suffering.

1 of 1

Story summary

A shocking U.S. Senate report uncovers that Elon Musk's Department of Government Efficiency squandered over $21 billion in just six months. The fallout from mass layoffs and funding freezes not only drained resources but also risks $395 billion in lost IRS revenue, while cuts to vital aid and health programs have inflicted deep human suffering.