Republican presidential nominee Donald Trump on Wednesday revealed his economic policy during a campaign rally in Asheville, North Carolina, promising supporters that his administration will “make America affordable again.”
The 45th president said that, under his leadership, the United States had one of the greatest periods of economic growth that any country has ever seen.
“In just four short years under President Trump, we passed the largest tax cuts in history, the largest regulation cuts in history. We unleashed American energy, and real income surged by more than $4,200 in just a short number of months.”
Trump also pledged a “brand new Trump economic boom” if reelected, adding that every American will prosper and every family will thrive.
Taxes
Trump once again touted his “No Tax on Tips” plan to supporters in Asheville. The former president previously said he came up with the policy after a restaurant server complained to him about her taxes. Republicans have since adopted it as part of their official party platform.
Democratic presidential nominee Kamala Harris has not yet revealed her economic policy, although this past weekend she came out in favor of the No Tax on Tips plan.
Trump also promised to make tax cuts permanent.
And he announced a no tax on Social Security plan, referring to the “double taxation on social security benefits” as “cruel.”
Jobs
Trump promised economic relief for Americans by terminating “job-killing regulations,” which he said were imposed by the current administration.
The former president said that his regulation cuts in his first term as president helped save the typical American family $11,000. To note, in January 2021, the Trump White House said their policies helped increase middle-class family incomes by about $6,000.
“In my next term, the Trump dividend will be even larger,” he said.
Inflation
On inflation, Trump criticized Harris for telling her supporters that tackling inflation would be a “day one” policy,” questioning why she hasn’t done it already.
Trump said he would target everything from housing affordability to car affordability, insurance costs, supply chain issues, and the price of prescription drugs.
He would also instruct his cabinet to get results in the first 100 days of his presidency or sooner.
American Energy
“We will drill, baby drill!” Trump told supporters. “We are going to bring energy prices down.”
The Republican presidential nominee pledged that he would issue rapid approvals for new energy infrastructure, unlock new lands for drilling, and achieve energy independence and dominance.
Trump vowed to slash energy and electric prices by at least 50–70 percent within 12 to 18 months.
He also promised to terminate the “Green New Scam,” in an apparent jab at the Green New Deal, pledging to use the funds to build roads and bridges.
Trump also said if reelected he would end the Biden-Harris electric vehicle mandate, which says that, based on emissions standards, gas-only powered cars can make up no more than 30 percent of new auto sales by 2032.
Border
Under Harris, the United States will have “mass amnesty,” according to Trump. The former president recalled that he imposed the Remain in Mexico policy but Biden-Harris immediately eliminated it. He suggested he would reenact a similar “closed border” policy seen in his first term, as outlined in the GOP platform.
Health Care
Trump accused Democrats of saying that he would immediately eliminate Obamacare.
But he told supporters that he would keep the Affordable Health Care Act intact unless there is another way to offer “less expensive and better health care” for Americans.
Kamala Harris Economic Policy Rollout
Harris is also scheduled to visit North Carolina this week. Harris on Friday will deliver her own economic policy speech to supporters in Raleigh.