US Presidential Election 2024: How is Donald Trump planning to tackle inflation, energy crisis and increase employment levels?
energy crisis. He criticized the current administration for its policies which have burdened the population.
The focus of the speech was on controlling inflation, giving relief from high rates of taxation and arresting the energy crisis in the country. The former US President has expressed confidence at winning the upcoming presidential poll in November. He accused the current administration of cancelling of his previous policies during his first term of presidency.
Inflation:
Donald Trump has lashed out at the Biden administration and said that this has been the worst inflation the US has faced. He added that inflation has been a killer for the country and has impacted the entire economy.
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Inflation rate in the US hit 9.1% before falling. It is still above the 2% mark which is the limit fixed by the US Federal Reserve, the country’s central bank. This has though brought little relief to the people. Items of daily purchases continue to remain high.
Trump added that there will be several relief measures under his administration such as eliminating the taxes on tips, raising tariffs on imports from other countries and drilling for more oil.
Lower Taxes:
Trump has promised to end all taxes on tips earned by service workers. He pointed out that in 2017 under the Tax Cuts and Jobs Act, the top individual income tax bracket was reduced to 37% from 39.6% and the standard deduction rates were nearly doubled.
Briefly, he promised to cut out inflation, put more income into the hands of individuals and get back the
