Oct 01, 2024 at 6:00 AM EDT
For years, Americans have witnessed the depletion of their jobs and wealth as industries and corporations were sold to overseas interests. However, with my economic strategy, we will put an end to this drain immediately. Once I am president, we will start reclaiming jobs and factories from other nations, reinvigorating the U.S. economy with businesses and trillions of dollars.
My plan guarantees that American workers will no longer fear job losses to foreign countries; instead, these nations will fear losing their businesses to the U.S. We will transform German automotive manufacturers into American ones and outpace China in electronics. Companies that once left will eagerly return.
I propose a compelling offer to global manufacturers: the United States will provide the lowest taxes, minimal energy costs, reduced regulatory hurdles, and free access to the largest and most lucrative market—but only if your operations are based here and employ American workers.
Companies that refuse this deal will face tariffs when importing goods to the U.S., and we will utilize the revenue from these tariffs to benefit American citizens.
This New American Industrialism will create millions of jobs, substantially increase wages, and restore the United States as a manufacturing leader.
Contrarily, Vice President Kamala Harris plans to tax unrealized capital gains heavily, forcing successful companies to surrender significant portions of their profits to the government. Her policies have led to a spike in electricity costs by shutting down power plants, pushing us toward third-world conditions by targeting the fossil fuel sector.
Under Harris’ policies, companies moving production overseas receive tax incentives and subsidies. With her pivotal vote on what I call the “Inflation Creation Act,” she funneled billions to Chinese firms, contributing to a loss of 24,000 American manufacturing jobs in August 2024 alone.
This disastrous trend for American workers stops the day I assume office.
Central to my plan is a 15 percent Made in America Corporate Tax Rate, a reduction from 21 percent, incentivizing companies to manufacture domestically. U.S.-based manufacturers will benefit from enhanced research and development tax credits, fostering advanced production facilities necessary for global industrial leadership.
We will slash energy and electricity costs by half within a year, not just for businesses but for all American households, and we aim to double our electricity capacity to compete globally, particularly in Artificial Intelligence. With the world’s lowest energy costs, we will attract major industries to the U.S., creating millions of jobs.
Special zones with minimal taxes and regulations will be established on federal lands to attract entire industries from abroad, and we will streamline environmental approvals to utilize domestic resources effectively.
My administration will ensure regulatory efficiency by eliminating ten old regulations for every new one introduced, maintaining my record as the most significant cutter of regulations.
To promote our manufacturing policies globally, I will appoint a Manufacturing Ambassador to persuade major manufacturers worldwide to relocate to America.
Additionally, we will address illegal immigration, which undercuts American workers’ wages, particularly affecting African American and Hispanic communities. Our policies will always prioritize American workers earning fair wages.
Vice President Harris’ tenure has seen the worst border crisis in history, with her policies likely to deindustrialize America completely, risking our national security and economic independence.
A country without steel cannot defend itself, which is why I will prevent foreign takeovers of critical American industries.
My economic policies will not only revitalize industries but also extend my 2017 tax cuts for working Americans and introduce new tax exemptions for overtime, tips, and Social Security benefits, enhancing the financial wellbeing of American families.
This is my commitment to making America affordable again and restoring the American dream, shifting manufacturing from overseas back to U.S. soil, revitalizing states across the country.
Vote Trump for a transformation that returns America to prosperity, making it bigger, better, and stronger than ever before.
Donald J. Trump, 45th President of the United States and a presidential candidate.