On Tuesday (February 24), President Trump delivered his State of the Union address. Below are highlights on the tax, health care, and trade issues Trump discussed in his speech.

Tax proposals

On tax issues, President Trump celebrated provisions of last year’s reconciliation bill, noting that Democrats were opposed. “But we held strong and with the great Big, Beautiful Bill, we gave you no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors,” he said. “And we also made interest on auto loans, tax deductible the first time, but only if the car is made in America.”

President Trump also cited the Trump Accounts established under the "One Big Beautiful Bill Act," saying they “are tax-free investment accounts for every American child.” He said that millions will be pre-funded courtesy of the U.S. Treasury and private individuals.

Additionally, the President called for, beginning next year, for those who do not have access to a retirement plan with matching contributions from an employer “access to the same type of retirement plan offered to every federal worker” with annual $1,000 matching contributions.

Tariffs

On tariffs, President Trump said despite an “unfortunate ruling from the United States Supreme Court,” the tariffs “will remain in place under fully approved and tested alternative legal statutes. They're a little more complex, but they're actually probably better, leading to a solution that will be even stronger than before. Congressional action will not be necessary.”

He said that “almost all countries and corporations want to keep the deal that they already made,” adding, “They will continue to work along the same successful path that we had negotiated before the Supreme Court's unfortunate involvement.”

Health care proposals

On health care, the President said, “I'm also confronting one of the biggest rip-offs of our times, the crushing cost of health care.” He said, “Since the passage of the un-Affordable Care Act, sometimes referred to as Obamacare, big insurance companies have gotten rich.” President Trump said that under his Great Health Care Plan, “I want to stop all payments to big insurance companies and instead give that money directly to the people so they can buy their own health care, which will be better health care at a much lower cost.” He said his plan also “requires maximum price transparency. That's a big deal.”

The President also spoke about efforts to end “the wildly inflated cost of prescription drugs.” He said, “Under my just enacted Most Favored Nation agreements Americans who have for decades paid by far the highest prices of any nation anywhere in the world for prescription drugs will now pay the lowest price anywhere in the world for drugs, anywhere, the lowest price.” The President said his deals have resulted in “price differences of 300%, 400%, 500%, 600% and more.” He added, “All are available right now at a new website called TrumpRx.gov.”

On Medicare, the President said, “Under this administration, we will always protect Social Security and Medicare.”

On fraud, waste, and abuse, President Trump said, “I am officially announcing the war on fraud to be led by our great Vice President JD Vance.”