Corporate America Refuses to Challenge Musk’s Federal Power Grab

By Evans Momodu
2 minute digest

Corporate America’s loyalty to lower taxes and deregulation appears unwavering, even as Elon Musk and his allies take aim at the federal institutions that underpin the economy.

Despite their immense lobbying power, major corporations and trade groups have remained conspicuously silent as the so-called “Department of Government Efficiency” (DOGE) disrupts federal payment systems and erases public data.

The reason is simple; US businesses have long thrived in a system of free markets, reliable economic data, and a stable regulatory framework.

Yet, instead of defending these structures, corporate leaders are staying quiet—prioritising their desire for tax cuts and reduced oversight over the long-term stability of the economic environment.

Economist Kathryn Anne Edwards noted the irony of this silence, pointing out that industries rely heavily on economic data for market predictions. Yet, as the federal government faces unprecedented disruption, the financial sector and broader business community have failed to push back.

The contrast is particularly stark given corporate America's recent willingness to engage in social and political issues. Companies vocally opposed North Carolina’s 2016 anti-trans “bathroom bill,” condemned police violence after George Floyd’s murder, and distanced themselves from the January 6th insurrection.

However, in the current political climate, businesses have largely abandoned such activism, wary of drawing attention from Trump and his allies.

This reluctance to engage was evident even as industry groups voiced opposition to Trump’s tariff policies, which threatened their bottom lines.

When the administration announced a temporary pause on tariffs for Canada and Mexico, these same groups quickly celebrated, showing that their priorities remain firmly tied to financial interests rather than democratic principles.

While there is no legal obligation for corporations to defend democratic institutions, their inaction underscores a troubling reality.

With Congress offering little resistance—Republicans largely indifferent and Democrats limited to rhetorical opposition, Musk’s growing influence over federal agencies continues unchecked.
Source: CNN