Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Tuesday detailed the alleged benefits of having a government 'efficiency' committee, which he has expressed willingness to be a part of if Donald Trump reclaims the White House in the upcoming Presidential elections.

What Happened: "A tremendous amount of growth and opportunity would be created by deregulation and reduction of wasteful government spending," Musk wrote on X on Tuesday.

Musk's explanation comes on the heels of his proposing a government efficiency committee in an interview with Republican presidential candidate Trump on Tuesday.

Musk said in the interview that the committee will ensure that taxpayers' money is spent in a good way. Musk also expressed his willingness to be part of such a committee, to which Trump responded positively.

About The 'Efficiency' Commission: Tuesday was not the first time that Musk talked about his interest in being part of the Trump administration or an efficiency committee. Earlier this month, Musk told Lex Fridman in a podcast that he had already discussed the commission idea with Trump.

Musk then hinted that the committee might be aimed at removing an "accumulation of laws and regulations."

"That's (accumulation of regulations) like the hardening of the arteries. Or a way to think of it is being tied down by a million little strings like Gulliver. You can't move. And it's not like any one of those strings is the issue, it's that you've got a million of them," Musk said.

The billionaire entrepreneur added that there needs to be a "garbage collection" system for regulations to prevent them from accumulating and preventing key projects such as building high-speed rail in the country.

Musk also said that the commission, if constituted, will face major resistance.

"You're attacking the matrix at that point. The matrix will fight back," Musk said.

Why It Matters: Musk officially endorsed Republican candidate Trump in July after a shooting incident at a rally in Pennsylvania despite the latter seeking the elimination of subsidies for electric vehicles.

However, Musk said during the company's second-quarter earnings in late July that the impact of the elimination of subsidies would only be slight for Tesla but devastating for its competitors. The elimination of EV subsidies would probably help Tesla in the long term, he added.

On Tuesday, Trump applauded Musk's Tesla and said, "You make a great product. Your product is incredible." However, that does not mean that everyone should opt for an electric vehicle, Trump added, reiterating his criticism for total electrification of the automobile industry.

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