President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead his administration's new Department of Government Efficiency, or DOGE, to end "government waste" and "slash excess regulations.

President-elect Donald Trump picked Elon Musk and Vivek Ramaswamy to lead a new commission on cutting government spending and regulation.

Former Republican presidential candidate Vivek Ramaswamy will co-lead the newly created department that Trump indicated will operate outside the confines of government.