In an address to the nation on Dec. 17, President Donald Trump spoke about the economy, efforts to lower prescription drug prices, and his plans for the year ahead. He noted the pending launch of a new website, TrumpRx.gov, in January 2026, highlighted economic progress, and announced a bonus payment of $1,776 to every military service member as a “Warrior Dividend.” He also touted his economic record and predicted the country is “poised for an economic boom the likes of which we’ve never seen.”
Upcoming Website Launch
On May 12, Trump issued an executive order (EO) directing drugmakers to lower the prices of their medicines to align with the prices charged in other wealthy countries.
The order set price targets for drugmakers to implement within 30 days of the EO and warned of additional measures to reduce prices if drugmakers failed to demonstrate “significant progress” toward these goals within six months of the order being signed.
The EO stated, “Americans should not be forced to subsidize low-cost prescription drugs and biologics in other developed countries and face overcharges for the same products in the United States. Americans must therefore have access to the most-favored-nation price for these products.”
In his speech, Trump said the website would reduce the cost of health care, stating he stood up to special interests and reduced the cost of drugs and pharmaceuticals, and calling the move a “giant dollar reduction.”
The TrumpRx.gov website notes that it does not sell medications but connects patients directly with the best prices, increasing transparency, and cutting out costly third-party markups.
Economic Progress Made
While nearly all workers report wages have not kept up with the cost of living, Trump said income is growing, citing construction and mine workers as examples of sectors where incomes are on the rise. “Wages are rising much faster than inflation,” he stated.
In his address, Trump also mentioned that companies are now building plants in the U.S. because of tariffs. The U.S. Supreme Court has been asked to address the president’s authority to impose tariffs on foreign nations under the International Emergency Economic Powers Act during a declared national emergency.
In announcing the Warrior Dividend for 1.45 million service members, Trump remarked that this was “a lot of money because of tariffs.”
OBBBA Mentioned
Trump also noted that because of the One Big Beautiful Bill Act (OBBBA), the government will levy no taxes on tips, overtime, or Social Security, resulting in large savings for workers.
The tax and spending law known as the OBBBA has caused a major shift in the taxability of employee compensation.
The new “qualified overtime” deduction applies to the 2025 tax year (through taxable year 2028) only for weekly overtime under the Fair Labor Standards Act. The OBBBA provides a significant tax benefit for employees who work substantial amounts of overtime annually for taxable years 2025 through 2028. However, the law’s overtime deduction cannot exceed $12,500 per individual or $25,000 for joint filers in any taxable year.
Administration ‘Not Done Yet’
In his address, Trump called the borders secure and stated prices were down, citing airfares, gas prices, Thanksgiving turkeys, and egg prices as examples. Trump added that the administration was “not done yet,” but instead was “making progress.”
He predicted a “complete comeback of America.”
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