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    • The situation in Iran is unlikely to harm the US economy or increase inflation, but the Fed will take its time lowering interest rates.
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    Home » In his convention speech, Trump says that he will end inflation and give “massive tax cuts.”
    Economy

    In his convention speech, Trump says that he will end inflation and give “massive tax cuts.”

    Republican presidential nominee delivers address as his party’s convention in Milwaukee comes to an end
    July 19, 2025Updated:September 5, 2025No Comments
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    18election live trump transcript vzqf videoSixteenByNine3000
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    This was the last speech that Donald Trump gave at his party’s convention in Milwaukee on Thursday night. He repeated his promises to lower taxes and stop inflation by increasing the production of fossil fuels in the U.S.

    During his lengthy speech, Trump said, “I will end the terrible inflation crisis right away, bring down interest rates, and lower the cost of energy.” He also said, “We will drill, baby, drill,” and he said that would “lead to a large-scale decline in prices.”

    Lower the cost of energy “Reduce the cost of all household goods, transportation, and manufacturing,” he said. “So much starts with energy, and remember that we have more liquid gold under our feet than any other country.”

    The former president also promised to cut off the Democrats’ spending on climate change, which he called a “green new scam” and a “incredible waste of taxpayer dollars that is fueling the inflation crisis.”

    As Trump talked about his plans to lower taxes, he said that “massive tax cuts for workers”—including his “no tax on tips” plan—are at the heart of his team’s plan to help the economy. In addition, Trump kept his promise to bring jobs making cars to the U.S.

    Trump’s speech came at a time when it looked like his chances of winning the White House were getting better. This was partly because of a new wave of support that came after an attempt on his life on Saturday. At the beginning of his speech, he talked about what happened on Saturday.

    There are also more and more doubts about the Democratic ticket, which helps him. Top Democrats are putting in a strong case for President Joe Biden to change his mind about running for re-election. Vice President Kamala Harris is widely seen as the most likely candidate to replace Biden at the top of the ticket.

    If Trump wins the election in November, he is likely to focus on extending the tax cuts he put in place in 2017 and making them last longer. He will also likely try to increase tariffs, loosen regulations, and crack down on illegal immigration at the southern U.S. border.

    As the convention began, Trump announced that Ohio Sen. J.D. Vance would be his running mate. He praised Vance’s work in tech and finance, as well as his memoir “Hillbilly Elegy,” which is about the economic problems in Vance’s home state.

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