Source: Finance Association

On Saturday local time, former US President Trump said that if he wins the November presidential election, tax cuts will be increased across the board. This is in stark contrast to Biden, who called for tax increases for US companies and the richest people.

At a large-scale rally in Wildwood, New Jersey, Trump promised supporters on the scene: “I want to give you a big Trump-style tax cut, not a Biden-style tax increase. The middle class, upper class, and lower class, and the corporate world must cut taxes.”

Trump's statement reflects his tax policy stance of stimulating economic growth through tax cuts. His statement is aimed at attracting voters from diverse social and economic backgrounds, and shows that his policies will benefit everyone.

In fact, whoever is elected will have to negotiate tax issues in 2025, as most of Trump's 2017 tax cuts will expire at the end of 2025, which also makes the tax debate likely to become a key political issue in this year's election.

Meanwhile, Biden previously claimed that he would cancel tax cuts favorable to families with income over 400,000 dollars and raise taxes on America's wealthy and large companies.

Trump also said on the same day: “On the first day of my election, I will immediately terminate Biden's crazy electric vehicle license, and New Jersey will no longer ban gasoline cars and gasoline trucks. We're leaving Biden economics behind, we're returning to MAGA economics, and we're bringing manufacturing, tourism, and other industries back to New Jersey like never before!”

Regarding the imposition of tariffs on imported cars, Trump said in March: “We will be imposing 100% tariffs on every car entering the country. If I am elected, you won't be able to sell these things.”

As always, Trump criticized Biden's economic policies. He blamed Biden's failed policies for causing prices to rise for all commodities. Polls showed that the economy was the most important concern of most voters. “If you want lower costs, higher income, more weekends on the coast... you have to vote for someone named Donald Trump.”

Furthermore, Trump also denied reports that Nikki Haley will be his running partner. He posted on Truth Social: “Nikki Haley is not within the scope of consideration for the vice presidency, but I wish her all the best!”

Advisers pointed out that Trump is in no hurry to select campaign partners; he will not officially nominate until the Republican National Convention to be held in Milwaukee, Wisconsin in July.

editor/tolk