In theory, Elon Musk's $5,000 DOGE checks could provide Americans with a financial boost — if they actually happen. Here's where they stand now.

In a Cabinet meeting this week, Elon Musk said DOGE expected to cut just $150 billion from the federal budget over the 2026 fiscal year.

Billionaire Elon Musk — and his work at The Department of Government Efficiency (DOGE) — have drawn significant attention in recent weeks. At one event, he even waved a chainsaw on stage, seemingly symbolizing DOGE’s aggressive approach to cutting wasteful spending and reducing unnecessary regulations.