In an address to the World Economic Forum on January 23, 2025, President Trump outlined his administration’s ambitious plans to rejuvenate the American economy and reassert the nation’s leadership on the global stage.
President Trump emphasized a “revolution of common sense” aimed at reversing what he described as the detrimental policies of the previous administration.
Trump criticized the prior administration for accumulating $8 trillion in deficit spending and implementing restrictive energy policies and regulations, which led to unprecedented inflation and high interest rates.
To counter these challenges, President Trump announced several immediate actions:
- Combating Inflation: He signed an executive order directing his Cabinet to utilize all available powers to reduce inflation and lower the cost of living.
- Government Efficiency: A federal hiring and regulation freeze was implemented, along with the creation of the Department of Government Efficiency to streamline operations.
- Energy Policy Overhaul: Declaring a national energy emergency, President Trump withdrew from the Paris Climate Accord, ended the electric vehicle mandate, and emphasized tapping into domestic oil and gas reserves to reduce energy costs and bolster manufacturing.
Deregulation and Tax Reform
Trump pledged to eliminate ten existing regulations for every new one introduced. He argued that the Biden administration had imposed an additional $50,000 in regulatory costs on the average American household over the past four years. Furthermore, plans are underway to pass significant tax cuts aimed at benefiting workers, families, and domestic manufacturers.
Ushering in the “Golden age of America”.
You can watch his full remarks on Fox News YouTube.