President Donald Trump brought a hefty dose of common sense and a whole lot of business experience with him to Savannah, Georgia on Tuesday when he spoke to a packed venue filled with supporters.
“We need a renaissance,” he said.
The president centered his remarks on his vision for American manufacturing, which lay primarily in ensuring companies build their products domestically.
“The centerpiece of my plan is for a manufacturing renaissance which will be a 15 percent ‘Made in America’ tax rate,” he explained.
In the past, Trump said the tax rate was close to 50 percent, but during his administration, he stated that he “got it down to 21 percent.”
He said his goal was to bring American manufacturers back home. “I will bring automobile manufacturing back to the highest level in the history of our country,” he promised.
Trump said companies who don’t make their products in the United States will have to pay a tariff.
“We’ll be making cars bigger, better, more beautiful, stronger, [and] faster than ever before,” he said.
The only caveat to his plan? Every company and manufacturer MUST make their products in America.
“I will give you the lowest taxes, the lowest energy cost, the lowest regulatory burden and free access to the best and biggest market on the planet but ONLY if you make your product here in America…and hire American workers for the job,” he said.
Trump contrasted his America First plan against Kamala Harris’s plan. He called her the “Tax Queen” and warned that her massive tax proposals would kill American production.
“[Companies] are going to leave our country in droves if she does that,” he said.
And it’s not only domestic production – it’s energy, too. Trump pointed out that Harris would “close down all fracking and all fossil fuel development,” which would further drive energy prices up and increase the cost of American production.
He hammered home his intention to continue regulatory cuts and tax cuts for Americans, which will further fuel economic stimulation.
“U.S.-based manufacturers will also be rewarded with expanded research and development tax credits, you’ll be able to write off 100 percent of heavy machinery and other equipment in the first year,” he said. “And full expensing for new manufacturing investments.”
Trump’s comments drew heavy and loud applause from the crowd in Savannah.
“This horrific nightmare for American workers ends the day I take the oath of office, January 20th,” he vowed.
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