Trump says Musk's efficiency panel will issue reports

PALM BEACH, Florida (Reuters) - U.S. President-Elect Donald Trump said on Thursday that a government efficiency panel headed up by billionaire Tesla CEO Elon Musk will issue reports in its work to streamline the U.S. government.

"They will be coming out with individual reports and a big one at the end," Trump said in a speech at his Mar-a-Lago resort in Florida, providing the first new detail on the panel's output since it was announced earlier this week.

Trump on Tuesday said the panel would "provide advice and guidance from outside of government," on slimming down the government, cutting regulations, reducing spending and restructuring federal agencies.

Trump, for example, wants to sharply cut the "deep state" – career federal employees he says are clandestinely pursuing their own agendas.

Trump and Musk have suggested the panel will make dramatic cuts. However the U.S. Constitution gives Congress the power over the federal budget. Congress can take or disregard advice from outside panels like the proposed efficiency group.

In an effort to be transparent, Musk said the panel will post its "actions" for public comment.

(Reporting by Chris Sanders and Steve Holland; Editing by Stephen Coates)