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In his first address to a joint session of Congress, President Donald Trump made bold economic promises, vowing to deliver the “great economy in history” under his administration. The president laid out his vision for sweeping tax cuts, trade tariffs, and financial incentives aimed at boosting American industries.
Trump declared that his administration would implement tax cuts “for everybody,” expressing confidence that Democrats would support the plan. “I am sure that they will vote for those tax cuts because otherwise, I don’t believe the people will ever vote you into office,” he said, directly addressing the Democratic lawmakers in the chamber.
Among the major tax proposals, Trump announced his intention to eliminate taxes on tips, overtime, and Social Security benefits for senior citizens. Additionally, he proposed making interest payments on car loans tax-deductible but only for vehicles manufactured in the United States. “We’re going to have growth in the auto industry like nobody’s ever seen,” Trump said, following discussions with executives from the nation’s top three automakers.
Advertisement · Scroll to continue— Donald J. Trump (@realDonaldTrump) March 5, 2025
Trump’s take on trade
The president also took a strong stance on trade, vowing to impose tariffs on companies that manufacture products outside the U.S. and then sell them domestically. “In some cases, that tariff will be a ‘large’ one,” he warned. Trump justified the move by claiming that other nations impose “tremendously higher” tariffs on American goods. “Other countries have used tariffs against us for decades, and now it’s our turn to start using them,” he said, announcing that reciprocal tariffs will take effect on April 2. “Whatever they tariff us, we will tariff them. Whatever they tax us, we will tax them.”
Criticism on “radical left lunatics”
Beyond economic policies, Trump also addressed law enforcement and the justice system, asserting that it had been “turned upside down” by “radical left lunatics”. He pledged to restore “fair, equal, and impartial justice,” beginning with reforms at the FBI and the Department of Justice. In a direct message to the newly appointed FBI Director Kash Patel, Trump simply stated, “Good luck.”
Trump’s economic vision, centered on aggressive tax cuts and protectionist trade policies, is set to face scrutiny from lawmakers and economists. While his administration argues that these measures will revitalize American industry and benefit workers, critics warn of potential trade wars and revenue shortfalls. As Congress begins deliberations on the proposed policies, the country watches to see whether Trump’s ambitious economic promises will translate into tangible results.
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