Former President Donald Trump on Thursday promised that if he wins the election, his administration would cut the corporate tax rate for “companies that make their product in America.”
Trump said during a speech at the Economic Club of New York that companies that manufacture their products in the U.S. would see a corporate tax decrease from 21% to 15%. He also vowed that there would be “big” tariffs on products made in foreign countries coming into the U.S.
“To further support the revival of American manufacturing, my plan calls for expanded R&D [research and development] tax credits, 100% bonus depreciation, expensing for new manufacturing investments, and a reduction in the corporate tax rate from 21% to 15% solely for companies that make their product in America,” Trump said to the applause of the crowd. “You have to make your product in America.”
“If you…
