Former President Donald Trump unveiled a pledge on Wednesday to fight inflation by cutting energy prices in half, securing the borders from illegal immigration, bringing supply chains back to U.S. soil, and reducing regulatory burdens on American businesses.
In remarks that drew a sharp contrast to the policies of the Biden-Harris administration, Trump told an audience in Asheville, North Carolina, that he would cut energy costs in half, restore home affordability by securing borders and deporting illegal immigrants, impose 10 to 20 percent tariffs on imports from countries he accused of taking advantage of the U.S., and end taxes on tips and Social Security income.
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Trump has long criticized the Biden-Harris administration’s energy policies, saying they sparked the surge of inflation that sent prices rising at the fastest rate in four decades. On Wednesday, Trump expanded this line of criticism, arguing that the Biden-Harris administration had eased back on its restrictions on fossil fuels for political reasons and predicting that if elected Harris would return to the anti-fossil fuel, anti-fracking policies she has long defended.
“Now they’re drilling, but the day after the election—if they win this election—the drilling stops,” Trump said. “By contrast, I am announcing today that under my leadership the United States will commit to the ambitious goal of slashing energy prices by half.”
Trump said he would reverse the Biden-Harris policies that thwart energy extraction in the Alaska National Wildlife Refuge. He also promised to end the electric vehicle mandates put in place by the administration.
Trump sought to connect Vice President Kamala Harris to the current administration’s economic problems, especially runaway inflation, pointing out that she was one of the biggest cheerleaders for Biden’s economic policies and the critical tie-breaking vote for many of his key pieces of legislation.
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“Kamala has declared that tackling inflation will be a day one priority. Think about it. For her, day one was three-and-a-half years ago,” Trump said. “She says her plan is going to bring down prices. Why didn’t you do it? You’ve been there three-and-a-half years.”
Trump outlined a hopeful, bright vision for the country and the U.S. economy.
“We will have prosperity and we will have peace,” he said. “We will end the era of inflation, mayhem, and misery.”
“Vote Trump and your incomes will soar, your savings will grow, young people will be able to afford a home, and we’ll bring back the American dream better and stronger than ever before,” Trump said.
The surge in illegal immigration during the Biden-Harris administration has pushed up housing prices and strained government budgets, Trump argued.
“I will seal the border. I will send them all back to their countries where they belong. Prices will come down, come down dramatically, and come down fast,” Trump said.
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Trump said that the surge in immigration is also endangering the health of Social Security and Medicare. He promised to shore up those programs by deporting illegal immigrants who might someday become a drain on them.
He also said that he would end taxation of Social Security benefits, pointing out that when the tax was first introduced during the Reagan administration it only affected a small number of wealthy beneficiaries. Because the threshold triggering taxes was not indexed for inflation, however, it now imposes taxes on retirees with below the median income in the U.S. That problem has become even worse in recent years thanks to the surge in inflation under Biden-Harris.
Trump reiterated his plans to end taxes on tips and to make the individual tax cuts enacted during his presidency permanent.
On trade, Trump went further than he has in the past, promising to impose tariffs of between 10 and 20 percent on “foreign countries that have been ripping us off for years.” In earlier statements, Trump had proposed a 10 percent tariff.
The tariffs will “bring back millions and millions of jobs and bring in billions and billions of dollars,” Trump said.
Trump asked his audience to contrast his administration to the current Biden-Harris regime.
“Does anyone feel richer under Kamala Harris and crooked Joe? Is anything less expensive?” Trump said. “Are you better off with Harris and Biden than you were under a person named Donald Trump?”