Biden ‘last minute spending spree’ on IRA, CHIPS, to get DOGE scrutiny [Video]

Department of Government Efficiency co-lead and former U.S. presidential candidate Vivek Ramaswamy isn’t prepared just yet to reveal his hand when it comes to where the new agency he will run with Elon Musk under President-elect Trump, DOGE, will target spending cuts.

But one immediate area of focus where he isn’t holding back is what he described as any “last minute spending spree” from the Biden administration within signature policy measures such as the Inflation Reduction Act and CHIPS Act.

As an example, Ramaswamy cited a recent $6.6 billion loan to EV maker Rivian Automotive.

“Current last minute IRA, CHIPS Act, and countless other federal spending sprees authorized under Biden, if suddenly you have spike in the rate of spending and dollars out the door,” Ramaswamy said at the CNBC CFO Council Summit in Washington, D.C. on Wednesday, “in some cases it is indefensible,” he said.

“The $6.6 billion loan to Rivian … I don’t think it will be paid back,” he said.

Ramaswamy described Biden authorizations in …