Elon Musk to serve in Trump admin: Key highlights from economic speech

Tesla investors already expressed concern CEO Elon Musk’s attention is too divided . However, he may have another task on his hands if former President Donald Trump is elected in November.

"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms," Trump said. "Need to do it, can't go on the way we are now. And Elon , because he's not very busy, has agreed to head that task force."

In fact, Trump said the whole thing is Musk’s idea. Musk tweeted that he looks "forward to serving America if the opportunity arises. No pay, no title, no recognition is needed."

The revelation came during a lengthy policy speech Trump made Thursday, Sept. 5, at the Economic Club of New York. In it, Trump dragged the Biden-Harris economy for inflated prices and immigration and called his opponent a Marxist.

" These are policies to turn the United States into Venezuela on steroids," Trump said. "Even if for this reason alone, Kamala Harris must be defeated decisively this November."

When moving on to his own policies , Trump talked about his plans to increase tariffs , make his tax cuts permanent and lower the corporate tax rate from 21% to 15% for companies that manufacture their products in the United States.

While he accused Harris of copying his ideas, like no taxes on tips , the corporate tax rate is an idea where there is a valley between them. Harris has called for raising the corporate tax rate from 21% to 28%.

"My plan will make our tax code more fair while also prioritizing investment and innovation," Harris said Wednesday , Sept. 4. "So let us be clear, billionaires and big corporations must pay their fair share in taxes."

"Kamala is also vowing to raise the corporate tax rate from 21% to 28%, we're bringing it down to 15%, but she really is looking to raise it to 40, 45, or even 50%," Trump claimed. "You know that; all you have to do is follow her past path."

In other news on Trump’s economic agenda, he announced a goal that is five times loftier than an executive order from his first term in office.

"My first term, I pledged to cut two old regulations for every one new regulation, and we did much better than that," Trump said. "I'm pledging today that in my second term, we will eliminate a minimum of 10 old regulations for every one new regulation."

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