Trump Proposes Economic Growth Strategies to Industry Leaders in New York

Former President Donald Trump addressed executives and industry leaders in New York, proposing plans to reduce prices by lifting regulations and increasing fossil fuel production. He also suggested reducing the corporate tax rate. The speech contrasts sharply with Vice President Kamala Harris's economic strategies aimed at increasing entrepreneurship and raising the corporate tax rate.

Former President Donald Trump addressed a gathering of top executives and industry leaders on Thursday, presenting his plans to cut prices for Americans by deregulating and boosting fossil fuel production, should he secure a second term.

Speaking at the Economic Club of New York, Trump advocated for reducing the corporate tax rate from 21% to 15%, a popular proposal among corporations. This follows his 2017 tax cut from 35% to 21%. Vice President Kamala Harris, his Democratic rival, seeks to increase the corporate tax rate to 28% to foster entrepreneurship and drive middle-class prosperity.

The opposing economic visions of Trump and Harris highlight a critical issue in the election. While an AP-NORC poll in August found Trump slightly favored over Harris in handling the economy, economists caution that his proposed tariffs could exacerbate inflation. In contrast, Harris aims to ease entrepreneurial ventures and is pushing for tax deductions tied to business startup costs, emphasizing long-term economic growth.

(With inputs from agencies.)