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President Donald Trump spoke at an event about the economy in Las Vegas on Saturday, making a stop in the city to discuss his plan to cut taxes on tips. The event was held at the Circa Resort and Casino in front of a large banner reading “No Tax on Tips”. Trump emphasized that economic confidence is soaring in the United States and said that “America’s decline is over”.
Trump’s plan is to eliminate the taxation of income from tips, a proposal he first made in June. He claimed that a “young beautiful waitress” gave him the idea for the policy, which he jokingly said was the extent of his research on the issue. He also mentioned that his 2024 rival, former Vice President Kamala Harris, also supports the proposal.
The plan is popular in Nevada, where the hospitality industry is vital, as it employs over 20% of the state’s workers. Trump’s opponent in the 2024 election, Kamala Harris, also supports the proposal, although it would require Congressional legislation to implement.
The proposal is not without controversy, as it could add $7.5 trillion to the national debt over the next 10 years, according to the non-partisan Committee for a Responsible Federal Budget. Trump plans to pay for his tax cuts by using revenue from higher tariffs on imported goods, an unprecedented shift that may face opposition from Republican budget hawks concerned about the reliability and durability of the revenue.