Elon Musk’s promotion of his satellite company's services came as his Department of Government Efficiency weighs potentially steep cuts at the FAA, which is overseeing the contract.

The US Federal Aviation Administration is nearing a decision on whether to cancel a $2 billion Verizon Communications Inc. contract, according to people familiar with the matter.

A growing number of U.S. lawmakers are raising questions about the potential for SpaceX CEO Elon Musk to interfere or take over a $2.4 billion Federal Aviation Administration telecommunications contract with rival Verizon .