Washington, March 26 (IANS) US President Donald Trump has cast his economic agenda as a direct relief plan for ordinary Americans, highlighting tax cuts, falling inflation and lower drug prices as key pillars of his administration’s pitch ahead of the midterm elections.
Addressing a House Republican dinner on Wednesday (Local time), Trump said his administration was focused on reducing the cost of living through tax relief and deregulation.
“As we rebuild the greatest economy in history, a top priority must be to bring down the cost of living, ” Trump said.
He said recent data showed easing inflation. “The last three months… inflation was 1.4 per cent, ” he said.
Trump promoted a series of tax proposals, including relief for workers and seniors. “No tax on tips, no tax on overtime, no tax on social security for our great seniors, ” he said.
He framed these measures as part of a broader legislative push. “We passed the largest tax cuts in American history… the great big, beautiful bill, ” Trump said.
The President also emphasised healthcare and prescription drug costs, claiming significant reductions under his policies. “We have lowered the price of drugs by 50, 60, 70, 80 and 90 per cent, ” he said.
Trump said his administration’s approach aimed to shift benefits directly to consumers. “I want this money to go directly to the American people so they can buy their own healthcare, ” he said.
He also pushed for greater price transparency and reforms to insurance systems. “You’ll pay much less… It’s gonna be better care at a lower cost, ” Trump said.
On trade and pricing, Trump claimed his policies had driven down pharmaceutical costs globally. “We go from the highest price ever paid to the lowest price in the world, ” he said.
The President argued that economic gains were achieved despite global tensions, including military action abroad. He said markets had remained resilient even during recent operations. “I thought the stock market would go somewhat lower… but it didn’t matter to me, ” Trump said.
Trump maintained that his administration had inherited high inflation and had reversed the trend. “I inherited the highest inflation in the history of our country, ” he said.
He also linked economic performance to broader political messaging ahead of elections. “That alone should win the midterms, ” Trump said, referring to drug price cuts.
The remarks come as the administration seeks to consolidate support around economic issues, including wages, taxes and consumer costs, ahead of the midterm polls later this year.