Democrats introduce bill after Warren alleges Musk makes $8 million a day from DC ties
The post Democrats introduce bill after Warren alleges Musk makes $8 million a day from DC ties appeared on BitcoinEthereumNews.com.
Democrat Senator Elizabeth Warren and House of Representatives member Melanie Stansbury have introduced a new bill targeting Special Government Employees (SGEs). The lawmakers say the bill wants to impose higher ethical standards on SGEs and restrict their influence. SGEs are federal government employees serving temporarily and for a limited period. They usually get to keep their external jobs while still working with the government and are not obligated to disclose their financial interests publicly. The new bill, known officially as the SGE Ethics Enforcement & Reform (SEER) Act, wants to impose higher ethics and transparency standards on this group. According to a release from Warren’s office, this has become necessary due to the influence of SGEs under President Donald Trump’s administration. Senator Warren leads effort to rein in SGEs The official statement from Senator Warren specifically mentioned Tesla and SpaceX CEO Elon Musk, noting that this bill would “rein him in.” Musk is classified as an SGE due to being a leader of the Department of Government Efficiency (DOGE), a position that many believe creates a conflict of interest. Warren said: “Unelected billionaire Elon Musk should not be acting as co-president of the United States and making $8 million a day from government contracts while he’s at it. My new bill would crack down on conflicts of interest and create stronger ethics rules for Elon Musk and all Special Government Employees.” However, Musk is not the only SGE that could be impacted by the Bill, even though he might be the most popular. White House Crypto and AI Czar David Sacks is also an SGE while holding his position as a partner in Craft Ventures, the venture capital firm he co-founded in 2017. However, he divested over $200 million in crypto-related investments upon his appointment to avoid a conflict of interest.…
Filed under: News - @ April 15, 2025 3:29 pm