Through the tackle, the previous president doubled down on lots of the insurance policies that he leaned on throughout his first 4 years in workplace and vowed to undo quite a few Biden administration strikes. He additionally known as for prolonged tax cuts, deregulation and tariffs on firms who outsource jobs or import merchandise.
Listed below are a few of our key takeaways.
Extra tariffs and tax cuts: The previous president stated he would push to increase the person tax cuts enacted in 2017 which can be set to run out in 2025. He additionally stated he would push to decrease the company tax fee even additional than the 2017 legislation did, from 21 p.c to fifteen p.c. Doing so would require congressional motion.
Authorities effectivity fee led by Musk: One concrete proposal from Trump’s speech was for the creation of a authorities effectivity fee, an thought first prompt to the previous president by billionaire ally Elon Musk.
Rescinding signature Biden legislation: Trump advised the viewers in New York that if he wins in November, a signature achievement of the Biden administration can be in bother. The previous president stated he would “rescind all unspent funds” below the Inflation Discount Act, a $740 billion legislation handed with solely Democratic votes in 2022.
The Hill’s Brett Samuels has more here.