Former President Donald Trump is set to soon announce his economic proposals as he attempts to defeat Vice President Kamala Harris in their bid for the White House.
New reporting has confirmed that Trump appears to have officially adopted Elon Musk’s idea of creating a government efficiency commission.
Trump and Musk
In recent years, Trump and Musk have grown increasingly close, especially as the billionaire’s political views have become more conservative.
Musk has officially endorsed Trump for president and is even running a Super PAC for the former president.
Musk’s Proposal
Recently, during a conversation on X, formerly known as Twitter, Musk first floated the idea of installing a new government efficiency commission.
This commission would be created to battle government spending, as well as address inflation.
Trump Adopts Musk’s Idea
Now, it appears that Trump has officially adopted Musk’s proposal. During his speech on his economic policies that he will install if he becomes president, Trump is set to also announce the creation of this commission.
Reporting had recently hinted that Trump would be relying on Musk when it came to “auditing” the federal government. Now, it seems that this is nearly official.
An Audit of the Government
The former president plans to outline how this commission will conduct “a complete financial and performance audit of the entire federal government.”
Trump will also ensure this commission makes “recommendations for drastic reform”, hinting at his desire to change much of how the government currently runs under President Joe Biden.
Musk Announces Excitement
A few days ago, when rumors swirled of Musk’s involvement in auditing U.S. agencies, the X owner took to social media to announce his excitement about the commission.
He posted, “I can’t wait. There is a lot of waste and needless regulation in government that needs to go.”
Trump Will Call Out Harris
Trump also plans to call out Harris and the current Biden administration by stating that they’ve ruined the economy.
He will say, “This election will decide whether we reward Kamala Harris with re-election and four more years of economic calamity—or whether we change direction.”
Other Trump Economic Plans
In this speech, Trump will also plan to call for deeper cuts to regulations.
Though many of these regulation cuts appear to still be in the planning stage, the former president will explain in his speech soon that he will cut regulations revolving around housing costs to help lower housing prices.
Declaring a National Emergency
Trump has previously stated that he will declare a national emergency that will allow him to remove “every bureaucratic hurdle to issue rapid approvals for new drilling, new pipelines, new refineries, and new power plants and reactors.”
He will restate this idea during his speech, arguing that this will help cut energy prices in half within his first year back in the White House — a claim that experts have been quite skeptical about.
Imposing New Tariffs
Trump also plans on imposing new tariffs if he wins the White House in November. These tariffs will mainly be about 10% to 20%, though China will face higher rates.
The former president has stated that these tariffs will help boost domestic manufacturing, but some economists have explained that it will only raise consumer prices.
Trump vs Harris on the Economy
This planned speech — and his endorsement of Musk’s idea — comes as Trump attempts to further outline his economic policies if he wins the presidential election.
The economy is the number one issue for many voters this year. Americans have explained in studies and polls that they want to elect a president who can help fix some of the economic worries that they’re dealing with.
Trump Stays Ahead of Harris
Many polls have shown that Americans think the former president would handle the economy better than Harris would.
In one poll, Trump even holds an 8-point lead over Harris in this regard. While he still leads on this issue, Harris has cut some of Trump’s advantage when compared to what was seen when Biden was still in the race.
