Washington DC - Billionaire Elon Musk is now teasing the idea that he and President Donald Trump will provide tax refunds to Americans using the money his Department of Government Efficiency (DOGE) has allegedly saved.

On Tuesday, X user James Fishback, CEO of the Azoria investment firm, shared a post arguing that DOGE should provide the refunds, which would be "funded exclusively with a portion of the total savings delivered by DOGE."

After winning the election in November, Trump created DOGE, which seeks to cut "waste, fraud, and abuse" within the federal government.

Musk, who Trump chose to head the agency, has said the goal is to cut $2 trillion from the federal budget.

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Fishback proposed that 20% of those cuts be given back to the American people, which, according to CNBC, would amount to $400 billion, coming out to $5,000 for every US household.

Musk surprisingly responded, simply writing, "Will check with the President."

To date, DOGE has claimed to have cut over $55 billion, though recent reports by Bloomberg and the New York Times found that the actual figures are considerably lower and that the agency has made several major mistakes in their calculations.

In 2020, Trump's previous administration mailed out stimulus checks to Americans during the Covid pandemic, which notably included the president's signature for the first time in US history.