FIRST ON FOX: House Republicans are eyeing ways to slash the outpouring of federal dollars after President-elect Donald Trump signaled that cutting government red tape would be a major part of his agenda.

Rep. Stephanie Bice, R-Okla., introduced a new bill on Thursday, titled the “Decreasing Overlapping Grants Efficiently (DOGE) Act,” which would establish a system for cutting down on redundant government grants from across multiple departments.

It comes after Trump announced the creation of an advisory panel called the Department of Government Efficiency, which he tapped Vivek Ramaswamy and Elon Musk to lead.

JOHNSON BLASTS DEM ACCUSATIONS HE VOWED TO END OBAMACARE AS ‘DISHONEST’

Congress is racing to be ready to execute the recommendations of President-elect Donald Trump’s new DOGE commission. (Getty Images)

“Like Elon Musk and Vivek Ramaswamy, I’m looking at ways to make the government more efficient and accountable,” Bice told Fox News Digital. “The DOGE Act would create a deconfliction and tracking system for federal grants that not only reduces waste but also builds confidence in how public funds are distributed and managed.”

In addition to the tracking system the legislation creates, it also prohibits the government from issuing multiple federal grants to the same applicant for the same or similar purpose.

MIKE JOHNSON WINS REPUBLICAN SUPPORT TO BE HOUSE SPEAKER AGAIN AFTER TRUMP ENDORSEMENT

The bill is being led by House Main Street Caucus Vice Chair Stephanie Bice. (Getty Images)

It would also commission a report on the benefits of using artificial intelligence to more efficiently identify duplicative grant applications.

One of the bill’s co-sponsors is Rep. Aaron Bean, R-Fla., who co-founded the DOGE Caucus in the House earlier this week.

It is another sign of Republicans readying to hold all the levers of power in Washington, D.C., next year, when the GOP will take over the Senate and White House in addition to retaining control of the House.

MATT GAETZ FACES GOP SENATE OPPOSITION AFTER TRUMP SELECTION FOR ATTORNEY GENERAL

CLICK HERE TO GET THE FOX NEWS APP

When announcing the Department of Government Efficiency, Trump said the panel would help his administration “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”

House Oversight Committee Chairman James Comer, R-Ky., recently announced a new subcommittee for the 119th Congress to correspond with the Department of Government Efficiency.