Former President Donald Trump laid out his economic vision for a second term on Thursday, promising tax cuts, deregulation, and a return to “explosive economic growth,” and spoke in favor of forming a government efficiency commission led by Elon Musk, aimed at slashing costs and eliminating waste, CBS News reports.
Addressing the Economic Club of New York, Trump stressed his commitment to rolling back regulations, cutting energy prices, and making America a global hub for cryptocurrency. He pledged to make his 2017 tax cuts permanent, further reduce taxes, and maintain his no-tax-on-tips policy, calling it a “win for American workers.”
The former president touted his first-term economic achievements, contrasting them with the current economic climate under the Biden administration. He sharply criticized Vice President Kamala Harris’s economic policies, characterizing them as leading to “crime, economic calamity, and international humiliation.”
Trump’s proposed government efficiency commission, formed “at the suggestion of Elon Musk,” would conduct a “complete financial and performance audit” of the federal government, identifying areas for significant reforms. Musk, a prominent Trump supporter, has agreed to lead the commission if his schedule allows. He expressed his willingness to “serve America” in a social media post Thursday morning, though the move could raise conflict of interest concerns given his vast business interests.
Trump’s proposal comes amid criticism that his economic plans could significantly increase the national debt. Meanwhile, both Trump and Harris are actively engaging in their respective economic pitches to voters.
Harris, in a campaign stop in New Hampshire on Wednesday, proposed policies aimed at fostering small business growth and advocated for a smaller increase in capital gains taxes than President Biden has proposed.
With the campaign heating up, economic issues are taking center stage. According to CBS News polling, the economy is a top priority for voters heading into Election Day, and Trump enjoys a lead among those who identify it as a major factor.
