Five Money Should Move the Middle Class, Elon Musk When He Gets Down from the Doge
Elon Musk has reduced its involvement with the Department of Government Efficiency (DOGE) and is refocusing on business ventures that have been hit in recent months.
Read next: Trump wants to replace income tax with tariffs: two effects on the middle class
Find it: 10 cars last longer than the average vehicle
Advertisement: High Yield Saving Offer
Doge lacks formal institutional status and Congress support, but Musk’s reduced role could indicate a change in the federal government’s political focus Cost reduction. For middle-class Americans, this shift is worth watching, especially as it focuses on new budget proposals, potential changes to federal tax laws, and debates over eligibility.
These are five money moves that the middle class should make When Musk resigns from his leadership role in Doge.
Even if Elon Musk returns from Doge, government spending cuts are moving forward.
President Donald Trump’s “One Big Beautiful Bill” will cut funding for major public programs, such as housing, education and food aid, while boosting defense and infrastructure spending.
For the middle class, that means less Support from government programs And there are no meaningful tax cuts.
For example, according to Tax Policy CenterMiddle-income households will receive an average tax cut of around $1,800, or about 2.4% of their after-tax income, under the bill. In contrast, households in the top 5% of income expect the tax bill to average $21,000, or 4.3% in after-tax income.
Now is the time for households to review their finances and plan for potential gaps. Households and individuals relying on tax credits, student aid, or healthcare grants should prepare for potential changes and explore ways to build financial resilience if these safety nets are reduced or eliminated.
Please note: Trump hasn’t ruled out the recession this year – what does that mean for your wallet?
Given the potential for policy changes and economic volatility, middle-class households are Strengthen emergency savings.
Financial experts usually recommend putting three to six months’ worth of living aside to navigate unexpected challenges such as unexpected costs and income disruptions caused by federal programs and changes in economic downturns.
According to experts of Vanguard“If you spend $5,000 per month, your first emergency fund savings milestone must be $2,500 to cover your spending shocks. Aim to save a total of $15,000 to $30,000 for the long-term goal of the emergency fund covering your income shocks.”