Donald Trump’s administration is considering returning 20 per cent of savings identified by Elon Musk’s Department of Government Efficiency initiative to Americans.

Speaking at an event hosted by Saudi Arabia’s sovereign wealth fund in Miami, the president said he is also considering using another 20 per cent of the Department of Government Efficiency (Doge) savings to pay off part of the federal government’s debt.

“There’s even under consideration a new concept, where we give 20 per cent of the Doge savings to American citizens and 20 per cent goes to paying down debt,” he said.

The proposal originally came from James Fishback, who on Tuesday posted a four-page memo on X suggesting a “Doge dividend”.

The post caught the attention of Mr Musk, who responded: “Will check with the president.”