Trump focuses connected affordability amid terms spike
National Economic Council Director Kevin Hassett joins 'Sunday Morning Futures' to measurement successful connected the imaginable economical fallout if Trump’s tariffs are struck down successful the Supreme Court and rising tensions implicit China’s rare-earth minerals.
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Democrats’ favourite connection lately is "affordability." They person painted the mendacious communicative that the predetermination of socialist Mayor Zohran Mamdani successful solidly bluish New York City oregon Democrat Gov. Abigail Spanberger successful solidly bluish Virginia were someway referenda connected President Donald Trump’s agenda. This fallacy not lone ignores the caller past but besides misses the facts instantly successful beforehand of america that Trump’s policies are making America affordable again.
Prices soared during the Biden administration. Inflation roseate astatine a adjacent 5% annualized complaint during his term. Such a catastrophe is 2nd lone to the terrible Carter-led ostentation of the 1970s, which collapsed U.S. surviving standards. Contrast this with Trump’s archetypal term, erstwhile ostentation roseate astatine little than a 2% annualized rate.
The representation of debased ostentation and beardown economical maturation during Trump’s archetypal word inspired Americans to re-elect him for a 2nd term. Voters enactment their spot successful Trump’s stewardship aft a disastrous 4 years of economical hardship nether Biden. Immediately aft taking office, Trump began laying the groundwork for a Golden Age economy. While determination is inactive overmuch enactment up to assistance Americans retired of the spread created by the Biden administration, we are making progress.
The archetypal measurement was passing the One Big Beautiful Bill (OBBB), which volition assistance Make America Affordable Again. There are 3 cardinal provisions successful the OBBB that volition boost take-home idiosyncratic pay.
TRUMP FLIPS DEMS' 'AFFORDABILITY' SCRIPT, TURNING BUZZWORD INTO MAGA MATERIAL AS MAMDANI VISIT LOOMS

President Donald Trump meets with New York City Mayor-elect Zohran Mamdani (L) successful the Oval Office of the White House connected Nov. 21, 2025, successful Washington, DC. (Andrew Harnick/Getty Images)
First is imperishable afloat expensing of concern investment, oregon what is commonly referred to arsenic superior expenditures (or "capex"). Thanks to this bold taxation incentive, companies tin present constitute disconnected the afloat outgo of purchasing computers, concern machinery, bundle and immoderate different equipment. When firms rise their capex, productivity increases since workers person further superior to nutrient the goods and services businesses and consumers want. Greater productivity, successful turn, raises household surviving standards by providing companies the quality to wage their workers more. Economic past is replete with examples erstwhile surging productivity produced ample increases successful idiosyncratic wages.
The 2nd proviso successful the OBBB dovetails with the capex inducement but whitethorn beryllium adjacent much powerful. Companies tin present deduct the full outgo of gathering a manufacturing works oregon cultivation operation successful the archetypal twelvemonth of construction.
In the past, companies had to hold astir 40 years to depreciate the afloat outgo of factories and workplace structure. But not anymore. This caller taxation inducement volition pb to a monolithic summation successful concern gathering and enactment reshoring of our proviso chains. With that volition travel high-paying operation jobs. And erstwhile the task is done, determination volition beryllium high-paying jobs wrong those structures, wherever workers volition beryllium utilizing the newest technologies acknowledgment to the capex incentives. The effect volition beryllium an concern boom.
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In tandem, a capex and concern operation roar volition summation the economy’s underlying productive capacity, which successful the past has ever been disinflationary. This means that ostentation is poised to autumn overmuch further, thereby giving workers an added lift. This is simply a one-two punch successful restoring idiosyncratic purchasing powerfulness due to the fact that nominal wages volition beryllium rising astatine the aforesaid clip ostentation volition beryllium falling. The upshot is simply a almighty humanities summation successful existent wages, akin but adjacent bigger than Trump’s archetypal term.
The 3rd proviso that volition amended affordability is nary taxation connected tips oregon overtime pay. By eliminating these taxes, moving Americans volition get to support much of their hard-earned income. This is captious to restoring household finances to lower- and middle-class families, which suffered disproportionately nether the anterior administration. Real after-tax wages for bluish collar workers are poised to soar acknowledgment to Trump’s policies and economical vision.
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From higher take-home wage for hardworking families to taxation incentives that volition thrust a disinflationary boom, the One Big Beautiful Bill was engineered to Make America Affordable Again. This historical taxation betterment volition guarantee that Main Street prospers alongside Wall Street successful President Trump’s Golden Age economy.
Joseph Lavorgna serves arsenic counsellor to Treasury Secretary Scott Bessent. As an economist, helium has spent much than 2 decades successful the fiscal services industry.









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