Texas Democratic Party Statement on the Inauguration of President Trump

AUSTIN, Texas - As Donald Trump prepares to enact his extreme and unpopular "Day One agenda", Texas Democratic Party Chair Gilberto Hinojosa released the following statement:

"Donald Trump isn't looking out for Texans - he's only looking out for himself and his billionaire buddies. Texans deserve an economy that works for them, but Trump's reckless plans will raise costs while threatening small businesses and industries that serve our communities, putting jobs and livelihoods at risk. After campaigning on supporting working Texans, Donald Trump has shown us exactly who he is by assembling the wealthiest Cabinet in United States history to rip off the American people.

"On day one, Trump is making clear that he intends to use the might of the U.S. government to further the interests of the ultra-wealthy at the expense of everyone else. Today and every day, Texas Democrats will stand up to Trump whenever he puts his personal agenda above the interests of working Texans."

Trump's billionaire Cabinet will help him rig the economy for the ultra-rich and big corporations, hike costs, and skyrocket inflation.

• Trump's administration includes more billionairesthan any other in American history, with a combined net worth that exceeds the GDP of 172 different countries.

• Trump and his incoming team are also threatening access to health careand critical earned benefits like Social Security- after Trump tried to gut boththe last time he was in office.

• And after giving away billions to the ultra-wealthy during his first term, Trump is doubling downon plans to give tax handouts for billionaires and big corporations as economists warn he's setting up an inflation bombto wreck the economy.

Trump has vowed to impose an expensive national tax on his first day in office, drastically raising the cost of critical goods like groceries and gas, while hurting small businesses.

• Trump is already walking backpromises to lower costs, instead pledginga $100 billion national taxon Americans.

• Trump vowed to enact widespread tariffs as soon as he takes office in January, a move that economists warn will jack up costsfor just about every type of import - from food and cars to computers and gas.

• Trump's disastrous plans would raise prices on necessities like groceries and gas, costing American families an extra $1,300 a year.

As he prepares to take office, Donald Trump is cashing in on the power of the presidency for his own financial gain - ripping off regular people in the process.

• Ahead of his inauguration, Donald Trump announced a crypto token that allows people to "transfer money to the president's family in connection with his office," raising widespread concern among legal ethics experts.

• The token, known as a "meme coin," has "no economic or transactional value and is often seen as a means of speculative trading."

• Trump is now planning massive giveaways to his special interest backers and billionaire friends, "working closely" with corporations to write legislation to further deregulate the crypto industry.

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Brigitte Bowen