Trump Promises Largest Tax Breaks in U.S. History

U.S. President Donald Trump unveiled new economic support measures, describing them as the largest tax breaks in the country’s history. Speaking to his supporters, he promised to eliminate taxes on tips, overtime pay, and pensions. According to him, these measures should significantly increase disposable income for millions of Americans.

In addition, Trump proposed a 100% tax deduction for companies investing in the U.S. economy. This is intended to stimulate domestic investment, create new jobs, and accelerate economic growth. The president emphasized that ordinary American families could receive "thousands of dollars a year" in additional income due to the reduced tax burden.

The plan provides for the elimination of taxes on overtime pay and tips at the federal level. Pensioners' income will also be exempt from taxation, which Trump said would correct an injustice toward citizens who have completed their working careers.

Simultaneously with these domestic initiatives, Trump made a strong foreign policy statement. On his official Truth Social page, he warned foreign countries against purchasing oil from Iran. He stated that any countries or individuals buying Iranian oil would immediately fall under U.S. sanctions and be excluded from trade relations with the United States.

This statement caused a stir in international circles, as China remains the main buyer of Iranian oil. According to analysts, China imports over one million barrels of crude from Iran daily. U.S. administration officials confirmed that the sanctions are now in effect and affect both Chinese and Iranian companies and individuals.

A total of 12 new sanctions have been imposed targeting companies in the oil and energy sectors, as well as intermediaries involved in financial schemes to circumvent restrictions. Trump stated that this strategy reflects his position of “strength and pressure,” particularly in the context of possible negotiations with Tehran over its nuclear program.

Experts note that this new wave of sanctions coincides with diplomatic signals from Washington indicating readiness for a new phase of dialogue with Iran. However, Trump’s approach involves increased pressure on opponents before discussing terms of a potential agreement.

Administration officials emphasize that the economic initiatives are aimed at restoring voter trust and reinforcing the U.S.'s position as a leading economic power. Moreover, the tax breaks and investment incentives are viewed as a key element of Trump’s re-election campaign.

The tax relief program will be submitted to Congress for review. If the bill is approved, implementation could begin within the coming months. White House representatives claim that the proposals have support in both chambers and align with the expectations of businesses and citizens.

According to independent estimates, eliminating taxes on tips and overtime pay could positively impact sectors such as hospitality, food service, and transportation. Exempting pensions from taxation is expected to reduce the fiscal burden on the elderly and boost consumer demand in the country.

Meanwhile, the U.S.’s new foreign policy moves have already prompted a response from China’s Foreign Ministry, which called Washington’s actions “economic blackmail.” Iranian authorities also condemned the sanctions, stating that such measures will not lead to changes in Tehran’s policies.

Thus, the U.S. continues its course of simultaneous domestic economic stimulation and foreign policy pressure. Analysts will now focus on Congress’s reaction and the countermeasures from China and Iran.

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