The Epoch Times

WASHINGTON—Trump called on Congress to repeal the CHIPS and Science Act, a key piece of legislation enacted in 2022 under President Joe Biden. The measure sought to boost the industries manufacturing semiconductors and other processor chips. “Your CHIPS Act is a horrible, horrible thing. We give hundreds of billions of dollars, and it doesn't mean a thing. They take our money,” Trump said, referring to companies that received money under the bipartisan legislation. “You should get rid of the CHIPS Act, and whatever is left over, Mr. Speaker, you should use it to reduce debt or any other reason you want to,” he continued, referring to House Speaker Mike Johnson (R-La.).

WASHINGTON—Trump announced during his joint address to Congress that he will pursue a balanced federal budget during his second term. “I want to do what has not been done in almost 24 years: Balance the budget,” Trump said. “We are going to balance the federal budget.” Trump made the remarks after speaking about savings identified by the Department of Government Efficiency (DOGE) totaling more than $105 billion. A balanced federal budget is a longtime goal of many Republicans, but it is not an issue Trump has historically addressed directly. He said part of achieving this would be the implementation of a “gold card” program—which he described as being “like a green card but better”—under which foreigners could pay $5 million for a path to citizenship.

WASHINGTON—Trump called for permanent tax cuts for all Americans and for Republicans to pass his tax agenda. “I'm sure you're going to vote for those tax cuts because, otherwise, I don't believe the people will ever vote you into office,” he said. He reiterated his call for no taxes on tips, Social Security benefits, and on overtime. Congressional Republicans are looking to pass a major bill that includes making the 2017 income tax cuts permanent. The bill would also include provisions related to energy and the border.