Vance holds rally in Texas for Paxton and puts energy, taxes and industrial investment at the center of the dispute
In Weatherford, vice president defends tax cuts, refinery expansion and US$670 billion in investments five days before the Senate election.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM FOX BUSINESS · 3 MIN
The Vice President of the United States, JD Vance, held a rally in Weatherford, Texas, to ask for votes for Attorney General Ken Paxton in the Senate race. According to Vance himself, the election will take place on Tuesday, November 3, five days before the event. Paxton's opponent is Democrat James Talerico.
The speech mixed social policy and economic agenda, and it was the second part that was most interesting to the market. Vance said the government has attracted "trillions of dollars" in new investment and cited $670 billion in manufacturing projects, new ports, refineries and factories. The numbers are from the vice president and were not detailed at the event.
On the tax agenda, he stated that Congress ended the collection of taxes on overtime, tips and Social Security, in addition to expanding benefits for families with young children. Vance has promised to "cut even more" taxes if candidates like Paxton are elected. In his presentation, Rep. Brandon Gill said Paxton has sued more than a hundred Texas cities to stop property tax increases. The room was asked to choose between rising or falling taxes.
Energy and refining at the center of the argument
Vance dedicated a relevant part of his speech to the price of gasoline. According to him, prices rise whenever a Middle Eastern leader causes instability, and Democrats worsen the problem by putting the brakes on drilling and refining. He stated that Joe Biden's administration has closed 20% of US refining capacity in four years. The information is attributed to the vice president and was not checked during transmission.
The vice president also said that, last week, the government announced a national expansion of refining capacity, starting in Texas. He defended more own energy production and accused Talerico of supporting a green agenda that would raise prices. He also claimed that his opponent classified energy jobs in Texas as immoral, a statement that was not presented with the source at the rally.
Housing, medicine and refrigerators
Vance said the government banned Wall Street and foreign investors from purchasing residential properties. Housing Secretary Scott Turner said companies will no longer be able to outbid families and that the goal is to restore home ownership to millions of Americans. The details of the measure were not explained.
The vice president also said drug prices fell for the first time in 40 years after President Donald Trump summoned the pharmaceutical industry to the Oval Office. He also announced that the Department of Agriculture will allocate millions of dollars to a new meat processing plant in Castro County, Texas. The facility is expected to create hundreds of jobs and process 400 head of cattle a day, which Vance said would give local ranchers a counterweight to what he called the beef cartel.
What changes for the investor
The rally did not bring projections, official data or execution schedule. The figures and promises came from campaigning politicians and need independent confirmation. Still, the script indicates which issues should weigh heavily if Paxton wins: tax policy, energy and refining, foreign trade and housing.
According to the Fox News broadcast, the Republican wing treated the election as decisive to maintain Trump's agenda in Congress. For those who follow the market, the outcome in Texas helps to measure the political space for new tax cuts and the expansion of energy production in the United States.
Automatically translated from Portuguese.
