Make America Wealthy Once Again
The RNC today will have the theme of making America wealthy once again.
President Donald Trump built the most robust economy in history, and he stands ready to do it again. By unlocking our nation's economic potential and reversing the disastrous policies of the past three years, President Trump will elevate every community, uniting our nation in shared prosperity.
President Trump ignited a historic economic boom once before, and he's the only candidate who can do it again:
• President Trump signed the Tax Cuts and Jobs Act—the largest tax reform package in history—into law, lowering taxes for all Americans and especially benefiting the working and middle classes. Filers earning less than $50,000 a year enjoyed a tax cut of up to 26%, while those earning less than $100,000 saw a tax cut of up to 17%.
• President Trump left office with the inflation rate at mere 1.4%. Throughout his term, inflation never exceeded 2.9%, averaging just 1.89%.
• Under President Trump, real median household income soared to a historic high of $78,250, marking a 6.34% increase during his administration.
• President Trump presided over a 19% decline in food stamp rolls, lifting 8.5 million people out of government dependency and saving the federal government $11 billion.
• President Trump’s economic policies lowered the percentage of people living in poverty by 15% during his administration.
We cannot afford to continue down the path Joe Biden has set us on:
• Since January 2021, overall prices have risen by 20.1%. A closer look at the data reveals many more everyday expenses are even more expensive:
o School Meals: Up 65.1%
o Car Insurance: Up 52.9%
o Unleaded Regular Gasoline: Up 49.1%
o Auto Repair: Up 40.1%
o Eggs: Up 38.9%
o Airfares: Up 32.0%
o Electricity: Up 31.6%
o Baby Food and Formula: Up 30.5%
o Chicken: Up 23.7%
o Shelter: Up 21.9%
o Groceries: Up 21.3%
• A report from the U.S. Joint Economic Committee calculates that Bidenflation has robbed the average U.S. household of a staggering $27,007 since January 2021.
• When adjusted for inflation, average weekly earnings for Americans dropped by nearly 4% under Joe Biden. Under President Trump, they grew by over 8%.
• Nearly four-in-five Americans are living paycheck-to-paycheck.
• Total household debt has reached a record $17.7 trillion under Joe Biden.
• The amount of credit card debt held by Americans is up nearly 42% since January 20, 2021.
• The number of Americans who are seriously delinquent on their credit card payments is at its highest level since 2010.
• The percentage of Americans who have become seriously delinquent on their auto loan payments has soared nearly 73% since Biden took office.
• The American Dream of homeownership has turned into a nightmare under Joe Biden:
o NPR recently reported that home prices have risen “a whopping 47%” since 2020, putting homeownership out of reach of millions.
o The typical salary needed to own a home has jumped to $106,500, an 81% increase from four years ago.
o Thanks to Bidenomics, the 20% down payment is a thing of the past: buyers now need to put down 35%, or an average of $128,000, to purchase a home.
o Home affordability reached its lowest level in four decades last year.
o The 30-year fixed rate mortgage average skyrocketed nearly 150% since Joe Biden took office.
• Biden's proposed budget for FY2025 includes $5.3 trillion in tax hikes on individuals and businesses, which is projected to lower wages by 1.1% and eliminate 666,000 jobs.
