(NewsNation) — Former President Donald Trump wants billionaire Elon Musk to do a financial and performance audit of the government to facilitate massive reforms.

Trump announced the idea during an address at the New York Economic Club, where he unveiled his economic agenda should he win a second term. He said Musk had suggested the idea, noting that Musk also endorsed his candidacy.

The former president said such an audit would be to combat waste and fraud and suggested it could save trillions for the economy.

As the first order of business, Trump said that this commission will develop an action plan to eliminate fraud and improper payments within six months.

Musk quote tweeted news of Trump’s plan and wrote; “I look forward to serving America if the opportunity arises,” he said Wednesday.

“No pay, no title, no recognition is needed,” Musk added. In a separate quote tweet, the X owner said the commission “is badly needed.”

Trump has long advocated for reforming the government, including efforts to make it easier to fire nonpolitical civil service employees.

Those employees are currently protected from being fired because their political views do not align with the White House, something Trump has said he plans to change.

Trump and Musk have a reputation for firing workers, including mass layoffs. Musk let go of a significant portion of Twitter’s workforce when he bought the company, now known as X.

Musk has also faced multiple legal actions due to the practice, including those alleging unfair dismissal, firings as an act of retaliation and alleging Musk did not provide necessary severance for employees. He has also been accused of violating labor laws.