Elon Musk and Rob Gronkowski Call for Simplified U.S. Tax Code
Musk, co-chair of Trump's Department of Government Efficiency, advocates for tax reform to reduce complexity and improve productivity.
- Elon Musk posted on X calling for a 'drastic simplification' of the U.S. tax code, citing its excessive length and complexity.
- Former NFL star Rob Gronkowski publicly supported Musk's proposal, emphasizing the need for simpler tax rules in a social media post.
- Musk and Vivek Ramaswamy are set to lead the Department of Government Efficiency (DOGE) under President-elect Donald Trump's administration, focusing on cost-cutting and government reform.
- The U.S. Treasury Department has proposed new corporate tax rules, aiming to generate $250 billion over the next decade, with a hearing scheduled for January 16.
- Simplifying the tax code could reduce government inefficiency but may also eliminate deductions and credits that benefit lower-income Americans and specific groups.