In Ga. visit, Trump unveils his pitch to attract foreign companies
SAVANNAH, Ga. - Former President Donald Trump told ers in Savannah on Tuesday that he wants to lead what he called “a manufacturing Renaissance.”
He said his proposed 15% “Made in America” tax rate will stop U.S. businesses from moving jobs overseas. He said he also wants to take jobs and factories from other countries.
“We’re cutting the business tax from 21% to 15% which makes us the most competitive tax anywhere on the planet, but only for those who make their product in the USA. See, that’s an incentive,” he said.
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Among the ideas he is planning to pitch is luring foreign companies to the U.S. by offering them access to federal land. He teased the plan earlier this month when he proposed the cut to the corporate tax rate.
His opponent, Vice President Kamala Harris, wants to raise it to 28%. The corporate rate had been 35% when he became president in 2017, and he later signed a bill lowering it.
Up until now, Trump has mostly framed his economic approach with measures to punish companies that take their businesses offshore. But on Tuesday, he is set to reveal incentives for foreign firms to leave other countries and migrate to the U.S. The former president wants to personally recruit foreign companies and to send of istration to do the same.
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He teased the plan earlier this month when he proposed a cut to the corporate tax rate from 21% to 15%, but only for companies that produce in the U.S. His opponent, Vice President Kamala Harris, wants to raise it to 28%. The corporate rate had been 35% when he became president in 2017, and he later signed a bill lowering it.
Trump has pressed Harris on the economy and proposed using tariffs on imports and other measures to boost American industry, even as economists warn U.S. consumers would bear the costs of tariffs and other Trump proposals like staging the largest deportation operation in U.S. history.
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It is unclear whether foreign companies would be attracted by some of these incentives he says he will adopt if elected to the White House. The former president also had a spotty record in the White House of attracting foreign investment. For example, Trump promised a $10 billion investment by Taiwan-based electronics giant Foxconn in Wisconsin, creating potentially 13,000 new jobs, that the company never delivered.
It’s also not clear how possible it is for a president to offer these perks to foreign corporations. The Bureau of Land Management has restrictions on foreign entities looking to lease lands. Trump’s campaign did not immediately respond to an inquiry Monday night about whether companies from China would be excluded, given his longtime accusations that China is hurting American business.
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Trump’s visit to Georgia was is first since a feud between the former president and the Republican Gov. Brian Kemp came to an end last month with the popular Georgia governor endorsing Trump.
Some Republicans have said they fear Georgia has gotten more politically competitive in the two months since Vice President Kamala Harris launched her presidential bid after President Joe Biden abandoned his reelection efforts. Harris gave a speech in Atlanta last Friday, calling Trump a threat to women’s freedoms and warning voters he would continue to limit access to abortion if elected president.
On Thursday, Ohio Sen. JD Vance, Trump’s running mate, is planning to visit metro Atlanta.
The Republican vice presidential nominee will host a “Get Out the Vote Rally” at The Venue at Friendship Springs, located at 7340 Friendship Springs Blvd. in Flowery Branch.
The doors open for the event at 2 p.m. and Vance is scheduled to speak starting at 5 p.m., according to the site.
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As a battleground state, Georgia is heavily coveted by both Trump and Democratic candidate Kamala Harris. A recent poll by The Trafalgar Group, an Atlanta-based survey company, shows Trump leading Harris 46.2% to 44.5% in the state, while 6% are still undecided.
Meanwhile, national polls show Harris a few percentage points ahead of Trump.
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