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By Jake Schneider (Rapid Response Director, Republican National Committee) –
President Donald J. Trump recently wrapped up a major speech to the New York Economic Club, in which he outlined his vision to make life affordable for Americans again — and contrasted his record of prosperity and opportunity with Kamala’s record of Radical Left lunacy.
President Trump’s plan is simple: keep taxes low, unleash American energy, cut regulations, prioritize efficiency, reduce spending, and make housing more affordable.
Under Kamala, we have an ECONOMY IN CRISIS:
- In just the past year, 1.3 million workers have become unemployed.
- The typical American family has lost over $28,000 paying for the increased cost of living.
- Credit card debt has reached an all-time high, with more than one-in-three Americans reporting they’ve maxed out their cards.
- Families now need to earn at least $110,000/year to afford a typical home — locking 65% of households out of buying ordinary houses.
- Gas prices, grocery prices, and electricity prices are up between 30% and 50% since President Trump left office.
- 8.4 million Americans are now working second jobs — the highest in three decades.
Kamala’s Radical Left agenda would DESTROY THE ECONOMY:
- She promises $5 trillion in tax hikes — the largest in history.
- She wants the largest small business tax hike in history by ending President Trump’s tax cuts for pass-through income.
- She’s proposing raising the business tax rate to 28% (higher than communist China).
- She vows to raise the capital gains tax to 33% — the highest since 1978.
- She wants a first-ever 25% tax on unrealized capital gains.
Under President Trump, we had a THRIVING ECONOMY:
- Real median household income rose by over $6,400.
- Real net worth for the average household increased by $197,000.
- Average wealth more than doubled for the bottom 50% of households.
- Seven million new homeowners were added — after 12 straight years of decline.
- Seven million new jobs were created in just three years.
- The S&P 500 increased by ~80%.
- Americans benefited from largest tax cuts in American history — which slashed rates for working families and cut the business tax from the highest rate in the world to an ultra-competitive 21%.
- A record number of job-killing regulations were cut — the only president in modern history to achieve a net reduction in regulations.
- America’s domestic oil production increased by a stunning 47% in just three years as the price of gas reached $1.87/gallon.
- More than 50 trade agreements were negotiated to protect the American worker and open foreign markets.
- The job-killing NAFTA was ended and replaced by the USMCA.
- A 27.5% tariff on all Chinese cars was enacted — and remains in place to this day — as President Trump stood up to China and saved the U.S. auto industry from obliteration.
President Trump has a plan to rescue Americans from Kamala’s nightmare — and bring back the American Dream bigger, better, and stronger than ever before:
PILLAR ONE: American Energy
President Trump will END Kamala Harris’s anti-energy crusade by implementing a policy of abundance, independence, and dominance — and cutting energy prices in HALF or more within a year of taking office.
President Trump will immediately issue a national emergency declaration to achieve a massive increase in domestic energy supply — and blast through every bureaucratic hurdle to issue rapid approvals for new drilling, pipelines, refineries, and power plants and reactors.
As a result, prices will fall immediately in anticipation of new supply.
PILLAR TWO: Ending the Green New Deal
To further defeat inflation, President Trump will terminate the socialist Green New Deal and rescind all unspent funds under the misnamed “Inflation Reduction Act.” President Trump will also immediately end Kamala’s electric vehicle mandate — stopping the waste and saving taxpayers an estimated $1 trillion.
PILLAR THREE: Cutting Regulations
In President Trump’s first term, he pledged to cut two existing regulations for each new regulation — and he did far better than that, cutting more than 5.5 regulations for every new regulation. But over the past four years, Kamala has added as much as $6,300/year in new regulatory costs onto the backs of every American family.
In his second term, President Trump will be even more aggressive in cutting unnecessary and burdensome regulations by eliminating a minimum of TEN old regulations for every one new regulation.
Moreover, instead of attacking the industries of the future, President Trump will embrace them, making America the world capital for Bitcoin and other cryptocurrencies.
PILLAR FOUR: Prioritizing Efficiency
In 2022, fraud and improper payments cost taxpayers hundreds of billions of dollars. That’s why, at the suggestion of Elon Musk, President Trump will create a Government Efficiency Commission tasked with conducting a complete financial and performance audit of the entire federal government — then making recommendations for drastic reforms, which will save taxpayers trillions of dollars, further taming inflation and bringing prices down.
PILLAR FIVE: Lowering Taxes
President Trump will bring economic relief by making the Tax Cuts and Jobs Act permanent — and will cut taxes even more by eliminating taxes on tips and seniors’ Social Security benefits.
President Trump’s plan calls for expanded R&D tax credits, 100% bonus depreciation, expensing for new manufacturing investments, and lowering the business tax rate from 21% to 15% — solely for companies that make their products in America. If a company outsources, offshores, or replaces American workers, not only will they not be eligible for these benefits, they will also pay a tariff when their product comes in from another country.
PILLAR SIX: Encouraging Domestic Production
Under President Trump’s leadership, America will encourage domestic production instead of punishing it — and make America the manufacturing superpower of the world once again.
President Trump will implement a pro-American trade policy that uses tariffs to encourage production here and bring trillions of dollars home. President Trump will ensure the U.S. has a steel industry, an aluminum industry, a manufacturing base, and a defense industrial base.
PILLAR SEVEN: Affordable Housing
President Trump will make housing much more affordable. As inflation is tamed, interest rates will fall dramatically — reducing mortgage rates back down to 3% and saving the average homebuyer thousands of dollars per year. President Trump will eliminate regulations that drive up housing costs, with the goal of cutting the cost of new home builds by HALF.
President Trump will also open up portions of federal land for large-scale housing construction — ultra-low-tax and low-regulation zones — where millions of Americans will take part in settling these safe and beautiful communities.
PILLAR EIGHT: Investing in National Endeavors
As President Trump defeats inflation, makes America affordable again, and reignites explosive economic growth, he will create America’s own Sovereign Wealth fund to invest in great national endeavors for the benefit of all Americans.
This fund will help build extraordinary national development projects — from highways to airports to the transportation infrastructure of the future — while investing in state-of-the-art manufacturing hubs, advanced defense capabilities, cutting-edge medical research, and modern agriculture techniques so we can have safe, healthy, high-quality foods for our families.
This wealth fund will return a gigantic profit, which will help pay down the national debt.
Kamala Harris has increased the cost of everything she touches — and her plans for the future would tax Americans even further into oblivion.
President Trump will unleash a new era of safety, prosperity, opportunity, and success for American families, workers, and businesses. He’s done it before — and together, we’ll do it again.
