Former U.S. president and Republican candidate Donald Trump promised on Wednesday that if he wins in November, he will curb inflation, boost the national economy, and cut energy bills by half.
In a campaign rally in Asheville, North Carolina, Trump laid out his economic plan for a potential second White House term but did not shy away from criticizing his opponent, Democrat Kamala Harris, and current President Joe Biden.
On a stage flanked by American flags, with a backdrop displaying messages such as No tipping taxes or No Social Security taxes, the Republican attacked the Biden administration’s economic handling, saying it caused a broad rise in prices. He warned that under Harris for four years finances would not recover, warned of a risk of a “crack” like the 1929 crash, and highlighted how inflation affects the U.S. economy and American families who are “paying the price of a terrible socialist economy.”
Conversely, he promised a “boom” if elected on November 5, featuring a quick drop in prices that would make the United States affordable again, playing on his campaign slogan: Make America Great Again.
A pillar of his plan is the energy sector and a push for fossil fuels, which he said would cut electricity prices by at least half, while he criticized Harris’s threat to ban fracking, referring to the hydraulic fracturing practice used to extract gas or oil.
Accusations against Kamala Harris
Trump again accused Harris’s team and her running mate, Minnesota Governor Tim Walz, of stealing ideas, including eliminating federal tipping taxes in the hospitality and service sectors.
In North Carolina, a key state in this year’s elections where Harris plans an event on Friday, the Republican did not shy away from recurring topics such as irregular immigration and what he called a new category of crime, “migrant crime,” which has brought criminals and narcotics into the United States, according to him. He claimed crime in Venezuela has fallen 72% thanks to criminals entering the U.S. due to the current administration’s open-border policy. He reiterated plans for the largest mass deportation operation in the country’s history to begin with a potential second term in office.
Not all attendees were convinced, as some Republicans hoped he would focus on his economic proposals rather than delivering a scattered image as seen during a press conference held last week at Mar-a-Lago, his Florida residence.
The event also touched on nostalgia, highlighting a time when inflation was not present upon leaving the White House and the largest tax cut in history had been implemented.
On Friday, the U.S. Department of Labor reported the annual inflation rate cooled to its lowest in more than three years in July, raising expectations that the Federal Reserve might cut interest rates this year. The Consumer Price Index rose 2.9 percent in July, a bit lower than June, but still above the Fed’s 2 percent target despite high rates.