Trump Pledges to Eliminate Taxes on Overtime ‍Pay⁢ in Bid to ‌Woo Blue-Collar Voters

Former Republican President Donald Trump has unveiled a new tax cut plan, promising to eliminate taxes on overtime ⁢pay in a bid​ to win​ over ⁣blue-collar voters. The announcement was made at‌ a campaign rally⁤ in Tucson, Arizona, on Tuesday.

“I’m going to ‌eliminate⁣ all overtime taxes,” Trump said at the rally. “People who work overtime are our nation’s hardest working‍ citizens, and for too long, they’ve been ignored in Washington.”

Abolishing taxes on overtime pay could make extra pay ⁣for work beyond 40 hours a week ‌more valuable, ​potentially encouraging blue-collar workers ⁤to vote ⁤for Trump. This⁣ demographic is a key part of Trump’s base.

Trump’s​ announcement comes after a shaky performance ‍in the presidential debate, where he was criticized for‍ not focusing enough on the ​economy. Despite this, polls‌ have shown Trump to be more highly rated‌ on the economy than his Democratic opponent, Vice President Harris.

In recent months, Trump has proposed a ⁣series of ‌tax cuts aimed at key voter groups. These include abolishing taxes on tips⁢ in the hospitality industry and eliminating taxes on Social Security benefits to support older voters.

At the rally, Trump ⁤also promised ⁤to lower mortgage interest rates to 2 percent. However,‌ as‍ president, he would have limited influence ⁢over the​ Federal Reserve, which ​sets the benchmark interest‌ rate for mortgage rates.

U.S. ⁤mortgage interest rates have fallen to their lowest since February 2023, with⁣ the ⁢average interest rate⁣ for a 30-year fixed loan ⁣currently standing at 6.2%, down‌ from 6.35% a week ago.