President Trump speaks on the Financial Membership of New York on November 12, 2019.
Adam Jeffery | CNBC
NEW YORK — Former President Donald Trump on Thursday unveiled a brand new batch of financial coverage proposals that embody Tesla CEO Elon Musk‘s thought of making a authorities effectivity fee to get rid of wasteful federal spending, a shot on the Biden-Harris administration’s spending ranges.
“This fee will develop an motion plan to completely get rid of fraud and improper funds inside six months,” Trump stated in a speech to a room filled with enterprise executives on the Financial Membership of New York.
“When Elon began the dialog with the president, I feel the president was very excited that anyone like Elon Musk is so devoted to America’s future that he could be prepared to be part of one thing to assist the federal government work extra effectively,” Trump marketing campaign advisor Brian Hughes stated on a name with reporters forward of the previous president’s speech.
Hughes added that particulars on how the effectivity fee could be staffed and operated are but to come back.
However Musk has repeatedly raised his hand to helm such a fee: “I look ahead to serving America if the chance arises. No pay, no title, no recognition is required,” the billionaire entrepreneur reiterated in a Thursday put up on X.
Trump’s embrace of Musk’s thought is the most recent sign of their warming alliance, a stark pivot from simply two years in the past when the 2 have been enthralled in a public feud, brazenly exchanging insults at one another.
The federal government effectivity fee additionally provides Trump a concrete proposal to connect to his assaults towards what he sees as frivolous spending within the Biden-Harris administration.
“It is time to ship Comrade Kamala Harris again house to California,” Trump stated throughout his Thursday speech. “She desires 4 extra years to implement the unconventional left agenda that poses a elementary risk to the prosperity of each American household and America itself. We’re speaking about America itself.”
Through the speech, Trump additionally doubled down on his earlier proposals to decrease the company tax fee to fifteen% and to repeal sure pockets of funding from President Joe Biden’s Inflation Discount Act.
“I’m promising low taxes, low rules, low power prices,” Trump stated.
Trump additionally lauded his personal first-term accomplishments, together with imposing a hardline tariff coverage towards China and slicing the company tax fee to 21% from its 35% fee.
“I took care of our economic system [as] I might deal with my very own firm,” Trump stated.
To this point, Trump’s financial proposals include their very own set of hefty worth tags, similar to his plan to impose across-the-board tariffs on all imports, which has confronted backlash from economists and Wall Road analysts.
The Thursday speech comes as Trump works to sharpen his coverage pitch 5 days earlier than he’s scheduled to face off towards Harris in a debate hosted by ABC Information on Sept. 10.
— CNBC’s Josephine Rozzelle contributed to this report.
It is a creating story. Examine again for updates.