Former President Donald Trump has unveiled a comprehensive economic plan aimed at revitalizing the American economy.

During a speech on Thursday, Trump outlined several key proposals designed to stimulate growth, reduce costs, and enhance American manufacturing. Central to his plan is the formation of a new government efficiency commission, which will be led by prominent entrepreneur Elon Musk.

Trump’s economic strategy includes a significant overhaul of the current tax system. He proposed reducing the corporate tax rate to 15% for companies that produce goods domestically. This move is intended to incentivize manufacturing within the United States and bolster the domestic industrial base. Additionally, Trump has promised to cut a range of regulations, arguing that excessive bureaucratic red tape stifles economic innovation and growth.

Another cornerstone of Trump’s plan is the expansion of fossil fuel production. He advocates for increasing the extraction and use of domestic fossil fuels, asserting that this will reduce energy costs and enhance national energy security. To further support American industries, Trump also plans to raise tariffs on imported goods. This tariff increase is aimed at protecting U.S. manufacturers from foreign competition and encouraging consumers to buy American-made products.

In a notable addition to his economic proposals, Trump announced the creation of a sovereign-wealth fund. This fund would be designed to manage and invest the nation’s surplus revenues, potentially creating new sources of funding for infrastructure and other public projects.

Overall, Trump’s plan represents a broad and aggressive approach to economic policy, emphasizing tax cuts, deregulation, and increased domestic production. The appointment of Elon Musk to oversee the government efficiency commission underscores Trump’s commitment to leveraging expertise from outside traditional political spheres to drive economic reforms.