Former President Trump gave a big speech in New York, revealing plans to cut the corporate tax rate to 15%. He also proposed a new "government efficiency commission" led by Elon Musk. Trump promised to "make America richer and stronger" if elected this November.
He made these remarks during his speech at The Economic Club of New York. Trump highlighted the strength of the U.S. economy during his first term. He criticized Vice President Kamala Harris for her "Kamalanomics," blaming her for inflation and other economic issues caused by the Biden-Harris administration.
Trump warned that Harris' "radical left agenda" is a threat to the prosperity of American families and the nation. "I’m here today to lay out my plan to rescue our country from this nightmare," Trump said. He vowed to restore the American dream, making it "bigger, better, and stronger."
During his administration, Trump said he "fought for American workers" like his own family. He emphasized that every decision was about creating jobs and strengthening the country. He added, "When our country was hit by the China virus, we saved the economy and rescued tens of millions of jobs."
Trump continued to attack the current administration, claiming they turned his economic success into a disaster. He accused Harris of launching a war on American energy and allowing illegal aliens to pour in. According to Trump, Harris and Biden's leadership has led to international humiliation.
"This election will decide if we reward Kamala with four more years of crime and economic calamity," he said. Trump warned that Harris embraces dangerous ideologies like Marxism and communism. He criticized her promises of price controls, reparations, and mass amnesty.
In contrast, Trump promised lower taxes, energy costs, and crime, while boosting incomes for all Americans. His plan, he said, would "defeat inflation" and spark explosive economic growth. Trump emphasized that his policies would leave families with more money.
He then vowed to end Harris' anti-energy crusade, restoring energy independence. He claimed energy prices would drop within 12 months if he's elected. "Energy was what caused our problem initially," Trump said. "Energy is going to bring us back."
Trump outlined plans to declare a national emergency to increase domestic energy supply. He also said this would position the U.S. as a leader in AI and other technologies. He promised rapid approvals for new energy infrastructure, predicting immediate price drops.
Finally, Trump pledged to rescind unspent funds from the Inflation Reduction Act. He vowed to end the electric vehicle mandate, saving taxpayers an estimated $1 trillion. Trump also stressed his commitment to making America the "world capital" for crypto and Bitcoin.
At Musk's suggestion, Trump plans to create a Government Efficiency Commission. Musk, who Trump said has endorsed him, agreed to lead this commission, tasked with auditing the federal government for major reforms.