DOGE suggests ending paper checks to save government at least $750 million
Elon musk’s Department of Government Efficiency (DOGE) has proposed eliminating paper checks as a means to reduce federal government expenses by at least $750 million annually.In fiscal year 2024, the U.S. Treasury processed 116 million paper checks, leading to delays and losses of tax refunds amounting to $25 million due to issues with returned or expired checks. Advocating for digital solutions, DOGE emphasized that modernizing payment processes is increasingly common in both corporate and banking sectors. Musk, who co-founded PayPal, has previously highlighted the need for cost-cutting measures and efficiency improvements in government operations.
DOGE suggests ending paper checks to save government at least $750 million
Elon Musk‘s Department of Government Efficiency announced a new cost-cutting suggestion for the federal government: eliminating paper checks.
“Deleting paper checks would save at least $750 million per year,” the DOGE X account posted Sunday.
DOGE noted that the Treasury Department processed 116 million paper checks during fiscal 2024.
DOGE also found $25 million in tax refunds that were delayed or lost due to “returned or expired checks.”
Last week, Musk defended the myriad of cost-cutting proposals and government waste found by DOGE.
Cutting paper and digitizing practices have been a growing practice in private, corporate America, and modern banking.
In a recent report by global management consulting firm Bain & Company, it found that some inefficiency at North American banks was due to “branch-heavy footprints” and “an overreliance on paper check payments.”
One of Musk’s first business ventures was co-founding X.com, a direct online bank, which later formed PayPal, which revolutionized e-commerce and banking.
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