Trump unveiled a series of economic policies in a speech in New York as his campaign seeks to contrast his platform with Harris’s ahead of next week’s debate.
Former President Donald Trump unveiled plans for a 15 percent tax rate for companies that produce goods in the United States, a commission to conduct an audit of the federal government, and the clawback of unspent funds authorized under the Inflation Reduction Act.
He said billionaire Elon Musk, who proposed the idea of the commission, has agreed to lead the efficiency panel.
In remarks to the Economic Club of New York on Sept. 5, Trump outlined new economic policies as his campaign looks to contrast his platform with Vice President Kamala Harris’s ahead of their debate next week.
Other provisions of Trump’s plan include increasing domestic energy production, ending subsidies for so-called green energy projects, decreasing federal regulations, attacking government waste and mismanagement, and increasing tariffs to spur domestic manufacturing.
Trump’s speech was made a day after Harris unveiled a proposal to give small business tax breaks and increase the top capital gains tax rate to 28 percent, breaking from President Joe Biden’s budget proposal, which she had previously endorsed.
Economic issues are the greatest concern for most voters, according to an Aug. 13 poll by The Economist/YouGov.
About 97 percent of Americans named jobs and the economy as either “important” or “very important” in their thinking. In the same poll, 63 percent said the country is on the wrong track.
Both candidates released their plans ahead of the first, and so far only, planned presidential debate on Sept. 10. Both aim to convince voters that they can be trusted to bring back jobs, make housing more affordable, and reduce the cost of gasoline and groceries.
Domestic Production
Trump also highlighted tax incentives aimed at increasing U.S. manufacturing capacity. The keystone of the plan is a reduction in the corporate tax rate to 15 percent from 21 percent exclusively for companies that make their products in the United States.
“My message is simple,” he said. “Make your product here in America, and only in America. We are not going to be taken advantage of anymore.”
By Lawrence Wilson, Jacob Burg, Andrew Moran and Emel Akan
