Former President Donald Trump said on Thursday that he intends to create a new Cabinet position geared toward cutting the cost of living if elected to a second term in the White House.
He made the announcement as part of a “new step” to get “emergency price relief to all Americans” while speaking at a rally in Albuquerque, New Mexico, with less than a week to go before Election Day.
“I will create a new Cabinet position for a senior member of my administration who will be tasked exclusively with doing everything in the federal government’s power to reduce the cost of living,” Trump said.
Trump also said he would sign an executive order on “day one” that would direct every federal agency to “immediately remove every single burdensome regulation driving up the cost of goods.”
Voters have rated the economy as their top issue for this year’s presidential election, with the rising cost of groceries and inflation establishing themselves as two leading causes of concern for U.S. consumers.
Trump’s 2024 rival, Vice President Kamala Harris, said in August that she would “take on the high costs that matter most to most Americans” and vowed to fight price gouging in the food and grocery industries.
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Elon Musk, the owner of X and other companies such as Tesla and SpaceX, has suggested he could help Trump in a second term ensure that taxpayers’ money is spent efficiently by the federal government.
Trump told Fox News two weeks ago that Musk wanted to be his “secretary of cost-cutting,” though he suggested the role would not be a formal Cabinet position because of the tech entrepreneur’s business empire.
“He wants to be in charge of cost-cutting,” Trump said. “We’ll have a new position, secretary of cost-cutting, okay? Elon wants to do that. He’s running a big business. He can’t just say, I think I’ll go into the Cabinet. Other people can, he can’t.”
Earlier this week, Trump unveiled a plan during a press conference at his Mar-a-Lago club in Florida to seize assets from criminal gangs and drug cartels and divert those resources to a compensation fund for the victims of migrant crime.