NEW YORK – Former President Donald Trump unveiled a series of recent economic policy proposals on Thursday, including Tesla CEO Elon Musk's idea of making a government efficiency commission to eliminate wasteful federal spending is an attack on the Biden-Harris administration's spending levels.
“This commission will develop an action plan to completely eliminate fraud and improper payments within six months,” Trump said in a speech to a room filled with business leaders on the Business Club of New York.
He added that Musk may very well be “the right person” to chair the commission “if he has the time.”
Trump's embrace of Musk's idea is the newest sign that their alliance is growing closer. Just two years ago, the 2 were embroiled in a public feud and openly insulting one another. This is a stark turnaround.
“When Elon started talking to the president, I think the president was very excited that someone like Elon Musk was so committed to the future of America that he would be willing to be part of something that would help the government run more efficiently,” Trump campaign adviser Brian Hughes said in a phone call with reporters before the previous president's speech.
Hughes added that details of the composition and dealing practices of the efficiency commission were still pending.
But Musk has repeatedly raised his hand to steer such a commission: “I look forward to serving America if the opportunity arises. No salary, no title, no recognition is required,” the billionaire entrepreneur reiterated in a Thursday post on X.
The Commission on Government Efficiency also offers Trump a concrete proposal for his attacks on what it sees because the Biden-Harris administration's frivolous spending.
“It's time to send Comrade Kamala Harris home to California,” Trump said in his speech on Thursday. “She wants four more years to push the radical left agenda that is a fundamental threat to the prosperity of every American family and to America itself. We're talking about America itself.”
So far, nonetheless, Trump’s economic proposals have come at a high price.
In his speech Thursday, Trump reiterated his potentially costly proposals, reminiscent of cutting the company tax rate to fifteen% from the present 21%, deepening his first-term tax cut that reduced the speed to fifteen% from 35%. He also reiterated his commitment to eliminating taxes on suggestions and advantages.
The former president promised to chop certain funding sources from President Joe Biden's inflation-fighting bill. “I promise low taxes, few regulations, low energy costs,” he said.
Trump also praised his own achievements during his first term, including imposing tough tariffs on China and cutting the company tax rate from 35 to 21 percent.
“I took care of our economy [as] I would take care of my own business,” Trump said.
Thursday's speech comes as Trump works to sharpen his policy stance five days before the scheduled Sept. 10 debate between him and Harris, hosted by ABC News.
Some of Trump's economic policy proposals, reminiscent of his plan to impose blanket tariffs on all imports, have met with fierce criticism from economists and Wall Street analysts.
Goldman Sachs, for instance, wrote in an analyst report on Tuesday that Trump's proposals could hurt GDP growth. It also said that a hypothetical Harris administration may very well be higher for the US economy. Trump's campaign team flatly rejected this concept on Thursday.
“They bring this kind of material into the political environment and then are not held accountable or responsible for how far off the mark it was,” Trump campaign adviser Hughes said of Goldman.
The multinational investment bank's assessment of the competing economic plans was a part of a confidential research document prepared for Goldman Sachs clients and never for most of the people.
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This is a developing story. Check back later for updates.
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