Trump proposes 15% corporate tax cut and plans for manufacturing expansion in Georgia

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During a recent speech in Savannah, Georgia, former President Donald Trump outlined a comprehensive economic plan aimed at revitalizing American manufacturing and attracting foreign investment. Trump proposed reducing the corporate tax rate from 21% to 15% under a potential second administration, a decrease from the previous cut he enacted through the Tax Cuts and Jobs Act of 2017, which lowered the rate from 35%.

Trump emphasized that his plan would ensure American workers would not lose jobs to foreign countries, stating, “Instead, foreign nations will be worried about losing their jobs to America.” He specifically mentioned the importance of Savannah, home to Gulfstream Aerospace Corporation, the area’s largest manufacturing employer, which employs over 11,000 individuals.

The former president also pledged to collaborate with Governor Brian Kemp to expand the Port of Savannah, enhancing its capacity and aiming to position it as a leading export hub. Trump noted that this expansion would facilitate increased production of ships and airplanes in the region, promoting the idea that Georgia could become a leader in robotics.

In response, Vice President Kamala Harris's campaign criticized Trump's plans, with businessman Mark Cuban calling the proposed tariffs on imports "insane," suggesting they would burden American consumers. Both Trump and Harris are focusing their efforts on Georgia, a key battleground state for the upcoming presidential election