Elon Musk and his team at the Department of Government Efficiency (DOGE) are working to "cut wasteful and fraudulent federal spending and eliminate excessive regulations." As of February 8 2025, DOGE claims to have cut $37B of wasteful spending, with a stated target of $2T. One criticism of DOGE is that its impact would be minimal. This calculator helps you understand its impact on your finances.
Assuming DOGE cuts federal spending by and that all savings are used to lower personal income taxes rates from brackets, as someone who is and earns a year, you'd stand to pay less annually in income taxes. How does that sound?