Trump Pledges To Create Musk-Led Govt. ‘Efficiency Commission’
In a recent economic speech at The Economic Club of New York, former President Donald Trump announced his intention to create a “government efficiency commission” led by Elon Musk, should he win the upcoming presidential election in November. The commission would focus on conducting a thorough financial audit of the federal government, aiming to identify and eliminate wasteful programs. This announcement follows media reports indicating Trump’s consideration of a panel of business leaders to enhance government efficiency.
Trump emphasized the need to reduce the corporate tax rate to 15% for companies producing goods in the U.S., a decrease from the current 21%. He also promised to cut ten federal regulations for every new one implemented, referencing his previous deregulation efforts during his first term. In addition to advocating for lower taxes and regulations, Trump highlighted the economic challenges inflicted by the current administration and contrasted his solutions with the policies supported by Vice President Kamala Harris.
Further outlining his economic strategy, Trump pledged to promote energy independence and reduce inflation while ensuring secure borders and lower crime rates. He aims to counter what he described as the “anti-energy” directives of the Biden administration and proposed a national emergency declaration to boost domestic energy production. Trump’s vision is centered around revitalizing the economy through substantial tax cuts, deregulation, and enhanced efficiency in government operations.
During a major economic speech on Thursday, former President Donald Trump pledged to create a “government efficiency commission” spearheaded by X owner Elon Musk if elected this November.
This commission will be “tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms,” the 2024 GOP presidential nominee said during his address to The Economic Club of New York.
The announcement came days after The Washington Post reported that Trump was considering forming such a group, comprised of leading business leaders, to identify and slash wasteful government programs.
Throughout his address, the former president voiced support for lowering the corporate tax rate to 15 percent for companies “that make their product in America,” which is lower than the current 21 percent established by Republicans’ 2017 Tax Cut and Jobs Act. (The previous rate was 35 percent). He also pledged to slash at least 10 federal regulations for every new one created, expanding upon a policy enacted during his first term.
“I took care of our economy like I would take care of my own company in every decision,” Trump said. “I asked, will I create jobs here, or will I be sending jobs overseas? Will it make America richer and stronger, or will it make our country weaker and poorer? … I always put America first every single time.”
The Republican nominee used the opportunity to highlight Americans’ economic suffering caused by the disastrous policies implemented by the Biden-Harris administration. Contrasting his vision with that put forward by Vice President Kamala Harris, Trump noted the 2024 Democrat nominee’s support for “communist price controls, wealth confiscation, energy annihilation, reparations,” and “mass amnesty and citizenship for tens of millions of migrants who will consume trillions of dollars in federal benefits and destroy Social Security and Medicare.”
“I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low crime and surging incomes for citizens of every race, religion, color and creed,” Trump said. “My plan will rapidly defeat inflation, quickly bring down prices and reignite explosive economic growth.”
The former president further promised to reverse the “anti-energy” directives of the Biden-Harris administration by instituting “a policy of energy abundance, energy independence and even energy dominance.” This would include the issuance of a “national emergency declaration to achieve a massive increase in domestic energy supply” should he win the election this fall.
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