On Saturday, local time, former US President Trump announced that if he wins the November presidential election, he will comprehensively increase tax cuts. This is in stark contrast to Biden's call for tax increases on American businesses and the wealthiest people.
At a large-scale rally in Wildwood, New Jersey, Trump promised supporters present, "I want to give you a Trump style big tax cut, not a Biden style tax increase. The middle, upper, and lower classes, as well as the business world, will all cut taxes."
Trump's statement reflects his tax policy stance, which is to stimulate economic growth through tax cuts. His statement aims to attract voters from different socio-economic backgrounds, indicating that his policies will benefit everyone.
In fact, whoever is elected will have to negotiate on tax issues in 2025, as most of Trump's tax reduction plans for 2017 will expire at the end of 2025, making tax debates a key political issue in this year's election.
Biden previously claimed that he would cancel tax cuts favorable to households with incomes exceeding $400000 and increase taxes on wealthy Americans and large corporations.
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 trucks. We will abandon Biden economics, we will restore MAGA economics, and we will bring manufacturing, tourism, and other industries back to New Jersey in an unprecedented way!"
Regarding the imposition of tariffs on imported cars, Trump stated in March, "We will impose 100% tariffs on every imported car. If I am elected, you will not be able to sell these things."
Trump continued to criticize Biden's economic policies, accusing his failed policies of causing prices to rise for all goods. Polls show that the economy is the most concerning issue for most voters. "If you want lower costs, higher income, and more weekends on the coast... you must vote for someone named Donald Trump."
In addition, Trump denied reports that Nikki Haley would become his running mate. He posted on Truth Social, saying, "Nikki Haley is not within the scope of running for Vice President, but I wish her all the best!"
Advisors point out that Trump is not in a hurry to select a running mate, and he will not officially nominate until the Republican National Convention held in Milwaukee, Wisconsin in July.