Senior counselor to the Treasury Secretary Joe Lavorgna highlights how President Donald Trump has modified the economic system within the first 200 days of presidency on ‘Varney & Co.’
FIRST ON FOX: The Treasury Division and the Common Providers Administration (GSA) are slated to unveil a brand new program on Wednesday aimed toward chopping wasteful federal contract spending, a part of the Trump administration’s broader push to rein in authorities prices.
The Financial savings Award for Verified Efficiencies, or SAVE program, offers federal workers an opportunity to counsel money-saving concepts—resembling canceling unneeded contracts, scaling again current ones, or discovering different efficiencies. If their concepts are verified, workers can earn rewards of as much as $10,000.
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An exterior view of the Division of Treasury in Washington, D.C. (Nicolas Economou/NurPhoto/Getty Photos / Getty Photos)
“This has been the president’s mandate to us to make use of commonsense enterprise ways,” GSA Commissioner Josh Gruenbaum defined to Fox Information Digital. “That is going to be very quick and streamlined,” he stated, including that Treasury and GSA will transfer rapidly on payouts as soon as financial savings are verified.
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Treasury Secretary Scott Bessent described the brand new program as a “new normal for accountable stewardship of public funds,” including that it could function a mannequin for cost-saving efforts throughout authorities.
President Donald Trump, alongside Treasury Secretary Scott Bessent, speaks throughout a bilateral assembly within the Cupboard Room of the White Home in Washington, D.C., on April 24, 2025. (Saul Loeb/AFP/Getty Photos / Getty Photos)
“We look ahead to working with our companions throughout the Trump administration to make sure that each taxpayer greenback is spent properly and effectively,” Bessent wrote in an announcement.
This system builds on GSA’s earlier “Defend the Spend” initiative, which recognized alternatives for smarter use of contract {dollars}. Underneath SAVE, every proposal faces two layers of evaluation.
Treasury’s Workplace of the Procurement Government conducts the preliminary evaluation, and GSA then confirms the financial savings are authentic, tied to the worker’s actions, and compliant with acquisition guidelines.
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The Common Providers Administration headquarters constructing in Washington, D.C. (Saul Loeb/AFP/Getty Photos / Getty Photos)
No award strikes ahead with out GSA’s approval, a safeguard meant to make sure transparency and equity.
If profitable, officers say the SAVE mannequin might be expanded throughout federal companies, making a long-term framework for chopping prices and safeguarding taxpayer {dollars}.
