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• Donald Trump proposed a sovereign wealth fund and a reduced corporate tax rate for domestic manufacturers in a recent speech.
• He also suggested eliminating taxes on tip income and creating a government efficiency commission led by Elon Musk.
• Trump proposed a mortgage ban for illegal migrants in California and opening federal land for housing construction.
• These proposals raise questions about their feasibility and potential impact on the U.S. economy.

In a recent economic speech at the New York Economic Club, Republican presidential candidate Donald Trump unveiled a series of proposals aimed at reshaping the economic landscape of the United States. These proposals, which spanned a range of sectors from taxation to housing, were met with a mix of anticipation and skepticism.

One of the key proposals was the creation of a sovereign wealth fund. Trump suggested that if elected, he would establish this fund to invest in great national endeavors, including major infrastructure projects such as highways and airports. The fund, he said, would be created through tariffs and other intelligent things, although he did not provide further details on its operation or funding.

Trump also pledged to reduce the corporate tax rate from 21% to 15% for companies that manufacture their products domestically. This proposal builds on his previous commitment to cut the corporate tax rate to 15%, but now ties that lower rate to keeping manufacturing within the country. This move is seen as an attempt to incentivize domestic production and potentially support infrastructure projects.

Trump's Proposals: A Closer Look

In a bid to appeal to service workers, Trump reiterated his proposal to eliminate taxes on income from tips. Current law requires employees to report their tips as income, and this move could potentially provide some financial relief for workers in the service industry.

In a surprising move, Trump announced plans to establish a government efficiency commission led by billionaire supporter Elon Musk. The commission would be tasked with rooting out waste and improper payments within the federal government. While the idea of an efficiency commission is not new, the appointment of Musk, a prominent figure in the tech industry, signals a potential shift towards a more technologically driven approach to government efficiency.

Trump also pledged to issue a national emergency declaration to boost domestic energy supply. He suggested using emergency powers to bypass regulatory hurdles and expedite new energy projects. However, such attempts to help energy companies skirt regulators would likely face legal challenges in the courts and in Congress.

Housing Proposals and Potential Impact

On the housing front, Trump proposed banning mortgages for migrants living illegally in California, claiming without evidence that they were driving up housing costs. He did not provide specifics on how he would enact such a ban and did not say whether the ban would apply beyond California.

In addition, Trump pledged to open up portions of federal land for large-scale housing construction, with zones that will be ultra low-tax and ultra low-regulation. This proposal appears to be a new approach to addressing housing affordability, although it remains to be seen how it would be implemented and what impact it would have on the housing market.

These proposals come at a time when the U.S. is grappling with a range of economic challenges, from a housing affordability crisis to a struggling manufacturing sector. While Trump's proposals offer some potential solutions, they also raise a number of questions about their feasibility and potential impact.