Trump’s economic plan includes tariffs, tax cuts and a tip exemption. Details are unclear.
The opening night of the Republican National Convention continued to focus on the economy on Monday. Saturday’s shoot Former President Donald Trump was injured at a rally in Pennsylvania.
Speakers argued that simply having Trump back in the White House could solve inflation and restore prosperity. “Tonight, the America of opportunity no longer feels like that,” lamented Virginia Governor Glenn Youngkin.
But Trump has offered few hard numbers, no specific policy language or legislative blueprints, and most of his speakers on Monday didn’t go into detail. Instead, his campaign is betting that voters care more about posturing than policy details.
Delegates watch the Republican National Convention in Milwaukee, Monday, July 15, 2024. (AP Photo/Nam Y. Huh)
Trump has said he wants to impose tariffs on trading partners, not tax tipping, and he wants to cut the corporate tax rate a bit. Republican Policy He also promises to increase oil, natural gas and coal production, as well as to “defeat” inflation and “reduce rapidly all prices.”
The platform calls for tackling illegal immigration with “the largest deportation program in American history.” Trump also plans to repeal President Joe Biden’s policies to develop markets for electric vehicles and renewable energy.
Democrats and several leading economists say the math shows Trump’s ideas would cause explosive inflation, hit the middle class hard and add more than $5 trillion to the national debt by extending soon-to-expire tax cuts.
▶More details here President Trump’s economic policies
