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Trump Lays Out Economic Platform Focused on Tax Cuts and Deregulation

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  Published in House and Home on Sunday, February 1st 2026 at 11:58 GMT by ksby
      Locales: South Dakota, UNITED STATES

NEW YORK (February 1st, 2026) - Former President Donald Trump delivered a speech at The Economic Club of New York on Wednesday, outlining a familiar economic platform centered around tax cuts, deregulation, and a sharp critique of the current Biden administration's policies. The address, which focused heavily on rising housing costs and persistently high credit card interest rates, signaled a clear intention to make economic grievances a central theme of any potential future campaign.

Speaking to a receptive audience, Trump directly blamed the current economic climate - marked by lingering inflation and elevated interest rates - on what he characterized as excessive government spending and burdensome regulations implemented under President Biden. He repeatedly asserted that these policies are stifling economic growth and harming American families. "The biggest problems we have are regulatory burdens and we have so much government spending," he stated, promising to "cut the hell out of them" if given another term.

While acknowledging the complexity of economic forces, Trump offered a simplified narrative: increased spending fuels inflation, and regulations impede business investment, leading to higher prices and slower growth. This echoes arguments made throughout his first term, where he frequently touted deregulation as a key to unlocking economic prosperity. He cited his previous administration's tax cuts as a prime example of a policy that successfully stimulated the economy, promising to "bring those back, and we're going to make even more cuts."

Housing Affordability as a Key Battleground

Trump's focus on housing costs is particularly noteworthy, as affordability has become a major concern for voters across the political spectrum. The median home price has continued to climb in many parts of the country, outpacing wage growth and putting homeownership out of reach for a growing number of Americans. He didn't detail specific housing policies in this address, but the emphasis suggests it will be a core element of his economic messaging moving forward. Experts suggest several factors are contributing to the housing crisis, including limited supply, rising construction costs, and demand fueled by demographic shifts.

Interest Rate Concerns and Consumer Debt

The former president also zeroed in on credit card interest rates, a particularly sensitive issue for millions of Americans carrying debt. With rates hovering around 20% or higher, many consumers are struggling to manage their payments, and the accumulation of debt is becoming a significant drag on personal finances. Trump's pledge to "get those interest rates down" resonated with the audience, but achieving this goal would require a complex interplay of factors, including taming inflation and influencing the Federal Reserve.

The Role of the Federal Reserve

Notably absent from the speech was any detailed explanation of how he would influence interest rates. During his first term, Trump frequently publicly pressured the Federal Reserve to lower rates, a practice that drew criticism from economists who argued it undermined the Fed's independence. It remains unclear whether he would adopt a similar approach in the future. The Federal Reserve operates independently of the Executive Branch and makes decisions based on its assessment of economic conditions, primarily focused on maintaining price stability and full employment.

Experts Weigh In

Economists are divided on the effectiveness of Trump's proposed solutions. Supporters argue that tax cuts and deregulation can incentivize investment and boost economic growth. Critics, however, contend that these policies disproportionately benefit the wealthy and can exacerbate income inequality. Furthermore, they point out that simply cutting regulations doesn't automatically translate into lower prices for consumers or increased housing supply.

"The idea that you can simply cut your way to prosperity is a simplification of a very complex economic reality," says Dr. Eleanor Vance, an economist at the Brookings Institution. "While reducing regulatory burdens can sometimes be beneficial, it's crucial to strike a balance between fostering innovation and protecting consumers and the environment."

The speech Wednesday served as a clear signal that Trump intends to re-enter the economic debate with a familiar playbook. Whether his message will resonate with voters in 2026 remains to be seen, but the focus on affordability, coupled with a direct critique of the current administration, sets the stage for a potentially contentious economic battle.