Trump said that Musk and Ramaswamy "will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies." He added that the new department will realize long-held Republican dreams and "provide advice and guidance from outside of government," signaling the Musk and Ramaswamy roles would be informal, without requiring Senate approval and allowing Musk to remain the head of Tesla, X and SpaceX.