With just weeks left until Election Day, Donald Trump is promoting a bevy of tax cut promises in an effort to sway undecided voters.
The former president has been unveiling new tax proposals almost weekly. His pledges, aimed at wooing key voting blocs, range from slashing corporate tax rates to eliminating taxes on tips and Social Security benefits, Reuters reported.
During a speech at the Detroit Economic Club on Thursday, Trump vowed to allow Americans to deduct car loan interest, a move designed to revive the U.S. auto industry. This proposal joins others, such as scrapping double taxation for American expats and eliminating taxes on overtime pay, part of an effort designed to capture voters’ attention in battleground states like Michigan.
Trump’s rapid-fire rollout of tax plans, particularly in states like Nevada and Michigan, highlights his strategic targeting of specific voter groups. His June promise to eliminate taxes on tips, for example, was a direct appeal to Nevada’s vast service sector.
Trump’s tax-cut agenda has drawn sharp criticism from figures like Michael Bloomberg, who accused both Trump and his Democratic opponent, Kamala Harris, of fiscal irresponsibility. However, Bloomberg’s strongest rebuke was reserved for Trump, calling his proposals “a recipe for disaster.”
Economists warn that his plans could add $7.5 trillion to the federal deficit over the next decade.
As both Trump and Harris gear up for the final weeks of their campaigns, the race remains tight, especially in pivotal states like Michigan.