Elon Musk to serve in Trump admin: Key highlights from economic speech

Simone Del Rosario: Tesla investors already expressed concern CEO Elon Musk’s attention is too divided. 

But he may have another task on his hands if Donald Trump is elected in November. 

Donald Trump: I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms. Need to do it, can’t go on the way we are now. And Elon, because he’s not very busy, has agreed to head that task force.

Simone Del Rosario: In fact, Trump says the whole thing is Elon Musk’s idea. 

Musk tweeted that he looks forward to serving America if the opportunity arises, no pay, no title, no recognition is needed. 

The revelation came during a lengthy policy speech Trump made Thursday at the Economic Club of New York.

In it, Trump dragged the Biden-Harris economy for inflated prices and immigration and called his opponent a Marxist. 

Donald Trump: These are policies to turn the United States into Venezuela on steroids, even if for this reason alone, Kamala Harris must be defeated decisively this November

Simone Del Rosario: When moving on to his own policies, Trump talked about his plans to increase tariffs, make his tax cuts permanent, and confirmed he plans to lower the corporate tax rate from 21% to 15% for companies that manufacture their products in the United States. 

While he accused Harris of copying his ideas, like no taxes on tips, the corporate tax rate is one where there’s a valley between them. Harris has called for raising the corporate tax rate from 21% to 28%. 

Kamala Harris: My plan will make our tax code more fair while also prioritizing investment and innovation. So let us be clear, billionaires and big corporations must pay their fair share in taxes.

Donald Trump: Kamala is also vowing to raise the corporate tax rate from 21 to 28% we’re bringing it down to 15% but she really is looking to raise it to 40, 45, or even 50%, you know that all you have to do is follow her past path.

Simone Del Rosario: In other news on Trump’s economic agenda, he announced a goal that is five times loftier than an executive order from his first term in office. 

Donald Trump: My first term, I pledged to cut two old regulations for every one new regulation, and we did much better than that, as I’ve said. I’m pledging today that in my second term, we will eliminate a minimum of 10 old regulations for every one new regulation. 

Simone Del Rosario: At SAN, we’re closely following the economic proposals made by both presidential candidates. And when independent bodies analyze and put price tags on these proposals, we bring them to you. So download the Straight Arrow News app and enable notifications so you don’t miss the unbiased, straight facts reporting that informs your vote.