In Racine, Wisconsin, in 2018, with a golden shovel in hand, Donald Trump promised the “eighth wonder of the world,” with thousands of jobs and billions in investments for the community.

He failed. The jobs never came

The failed Foxconn project created little more than ten percent of jobs promised and less than seven percent of promised investment – and cost taxpayers $4.5 billion. Trump failed Wisconsin, losing tens of thousands of jobs – including thousands of manufacturing jobs.

Instead, an ultra-wealthy corporation lined their pockets with taxpayer dollars and bulldozed homes.

This isn’t the only time Donald Trump screwed over workers when he was president – his economic agenda shuttered factories and incentivized companies to ship American jobs overseas all while handing out tax breaks to the ultra-wealthy and big companies.

What’s more: He’s offered us a preview of a second term that will drive up costs for working families and cut Social Security and Medicare. 

While all Donald Trump delivered to Wisconsin was broken promises, Joe Biden is delivering jobs – nearly 200,000 of them. And just last month in Racine, he announced with Microsoft thousands more union jobs and an investment of billions of dollars in AI infrastructure.

The following is a statement from Biden-Harris 2024 Rapid Response Director Ammar Moussa on Trump’s failed economic policies in Wisconsin:

“Donald Trump was a disaster for working families across Wisconsin, and his plans to cut taxes for billionaires and corporations will make life even more expensive if he’s given the chance. After incentivizing companies to ship thousands of manufacturing jobs overseas and driving up unemployment as president, Trump is touting his plans to enact across-the-board tariffs to offset tax cuts for the ultra-wealthy that will make prices skyrocket. Trump is in this race for himself and his rich friends – not the American people.” 

Trump’s failed leadership left our economy in tatters, and he’s vowing to bring back his failed economic policies that boosted the rich while hurting American workers.

  • Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”
  • ABC: “Economists say Trump’s economic legacy will be defined by his failure in leadership during the COVID-19 pandemic that exacerbated the financial downturn, domestic policies that overwhelmingly benefited the wealthy, and international trade policies that hurt U.S. industry while simultaneously alienating allies.”
  • AP: “Between 2017 and the middle of 2019, Trump added 461,000 manufacturing jobs. But the gains began to stall and then turned into layoffs during the pandemic, with the Republican posting a loss of 178,000 jobs.”
  • ITEP: “The Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.”
  • CBPP: “New research shows that workers who earned less than about $114,000 on average in 2016 saw ‘no change in earnings’ from the corporate tax rate cut, while top executive salaries increased sharply. Similarly, rigorous research concluded that the tax law’s 20 percent pass-through deduction, which was skewed in favor of wealthy business owners, has largely failed to trickle down to workers in those companies who aren’t owners.”
  • New York Times: “Trump has offered little explanation about how his plans would lower prices. And several of his policies … would instead put new upward pressure on prices, according to interviews with half a dozen economists.”

Trump wants to give another handout to his billionaire donors and rich corporations while cutting Social Security for the middle class.

  • Trump wants to slash taxes for the ultra-wealthy and corporations – all while cutting Medicare and Social Security. 
  • Every single year he was president, Trump proposed budgets that slashed Social Security and Medicare.

Trump’s agenda would skyrocket costs for middle-class Americans.

  • Raising taxes: Trump is proposing a 10% across-the-board import tax – or even more – that would cost a typical family around $1,700 a year. 
  • More expensive health care: Donald Trump won’t quit. He is pledging again to try to repeal the Affordable Care Act, which would increase health care costs for millions of Americans and allow insurance companies to deny coverage or raise prices for 100 million people with preexisting conditions. 
  • If he is successful, millions of people across the country could have to pay more, with a middle-class family facing premiums of over $11,000 more.
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