During the address, the former president doubled down on many of the policies that he leaned on during his first four years in office and vowed to undo numerous Biden administration moves. He also called for extended tax cuts, deregulation and tariffs on companies who outsource jobs or import products.
Here are some of our key takeaways.
More tariffs and tax cuts: The former president said he would push to extend the individual tax cuts enacted in 2017 that are set to expire in 2025. He also said he would push to lower the corporate tax rate even further than the 2017 law did, from 21 percent to 15 percent. Doing so would require congressional action.
Government efficiency commission led by Musk: One concrete proposal from Trump’s speech was for the creation of a government efficiency commission, an idea first suggested to the former president by billionaire ally Elon Musk.
Rescinding signature Biden law: Trump told the audience in New York that if he wins in November, a signature achievement of the Biden administration would be in trouble. The former president said he would “rescind all unspent funds” under the Inflation Reduction Act, a $740 billion law passed with only Democratic votes in 2022.
The Hill’s Brett Samuels has more here.
