Trump Proposes Government Efficiency Commission, Backed by Elon Musk

Former U.S. President Donald J. Trump unveiled an ambitious economic plan during a high-profile address in New York on Thursday.

The plan proposes the creation of a government efficiency commission led by billionaire entrepreneur Elon Musk.

Trump announced that Musk would head the commission. The commission would undertake a comprehensive audit of federal operations and recommend sweeping reforms to eliminate waste. Trump claimed this could yield “trillions of dollars” in savings.

In a lengthy and sometimes meandering speech lasting over an hour, Trump characterised his first term as an economic success and reiterated his commitment to lowering taxes and increasing import tariffs.

Despite the historically negative impact of trade wars on American agriculture and the potential for international retaliation against new tariffs, Trump insisted that his proposed tax cuts would drive economic growth, a projection that did not materialise with his 2017 tax reforms.

The proposed efficiency commission is part of Trump’s broader strategy to distinguish his economic policies from those of his Democratic rival, Vice President Kamala Harris, whom he criticised for promoting excessive spending and stringent regulations.

Trump also promised to eliminate ten existing government regulations for every new one introduced under his potential administration, echoing a previous executive order aimed at regulatory reduction. The likely appointment of Musk, whose companies SpaceX and Tesla benefit from federal contracts and incentives, raises concerns about possible conflicts of interest.

Additionally, Trump advocated repealing the Inflation Reduction Act 2022, President Biden’s landmark climate and tax legislation. He proposed reducing the corporate tax rate from 21 per cent to 15 per cent, contingent upon domestic manufacturing. He suggested further protective tariffs to support American industries and reduce the national deficit.

Trump’s address outlined a bold economic vision intended to contrast his policy proposals with Harris’s and address perceived inefficiencies and trade imbalances in federal governance.

Sola Adeniji

News Reporter, Freelancer, and content creator

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