Former President Donald Trump unveiled his economic proposals for a potential second term on Thursday, while expressing strong support for a government efficiency commission championed by Elon Musk. Speaking at The Economic Club of New York, Trump emphasized the commission’s creation at Musk’s suggestion and outlined its mandate to audit the federal government.
Trump stated that the commission would conduct a comprehensive financial and performance audit of the entire federal government, aiming to identify opportunities for drastic reforms. “This will save trillions of dollars,” Trump asserted. He added that Musk has agreed to lead the task force “if he has the time,” and that the commission would develop an action plan to eliminate fraud and improper payments within six months.
Musk, a prominent supporter of Trump, endorsed the former president following an assassination attempt in July. The tech billionaire hosted a one-on-one interview with Trump on X, formerly known as Twitter, and expressed his willingness to serve on the commission if the opportunity arises. However, Musk’s involvement could raise conflict of interest concerns due to his extensive business empire. He emphasized that no pay, title, or recognition would be required for his participation.
During his speech, Trump also highlighted the economic achievements of his first term while criticizing the current economic environment under the Biden administration. He contrasted his vision for the future with the policies proposed by Vice President Kamala Harris.
“I’m here today to lay out my plan to rescue our country from this nightmare,” Trump declared. He proposed an energy policy that would roll back regulations on American energy, aiming to cut energy prices in half within a year of taking office. Trump also pledged to end electric vehicle mandates and launch a campaign to reduce regulations.
Trump’s economic agenda included making America the “world capital for crypto and bitcoin” and making his 2017 tax cuts permanent. He also promised to cut taxes further and touted his recent no-tax-on-tips policy.
“I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime, and surging income for citizens of every race, religion, color, and creed,” Trump asserted. He claimed that his plan would “rapidly defeat inflation, quickly bring down prices, and reignite explosive economic growth.”
Trump’s support for the government efficiency commission comes amid criticism that his economic proposals could increase the national debt. Both Trump and Harris have been presenting their economic platforms as the campaign heats up, and next week, they will face off on the debate stage, where economic issues are expected to be a focal point.
Vice President Harris, during a campaign stop in New Hampshire, proposed policies aimed at fostering small business creation across the U.S. She also called for a smaller increase in capital gains taxes compared to President Biden’s proposal.
Economic issues have become a top priority for voters as Election Day approaches. Trump currently leads among voters who consider the economy a major factor, according to recent polling.
“This election will decide whether we reward Kamala Harris with reelection and four more years of crime, economic calamity, and international humiliation or whether we change that direction and once again build the greatest economy in the history of the world — which we had during the Trump administration,” Trump concluded.
**Tags:** Donald Trump, Elon Musk, Economic Proposals, Government Efficiency, 2024 Election, Biden Administration, Kamala Harris, Crypto, Tax Cuts
**Focus Keyphrase:** Trump economic proposals 2024
**SEO Title:** Trump Outlines Economic Proposals, Backs Musk’s Efficiency Commission
**Meta Description:** Former President Trump outlines economic proposals and supports Elon Musk’s efficiency commission during a speech at The Economic Club of New York.
**Excerpt:** Former President Trump unveiled his economic proposals for a potential second term and backed Elon Musk’s government efficiency commission during a speech at The Economic Club of New York.
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