Former Reagan economist Art Laffer appeared on Fox Business Monday and laid out a roadmap for President Donald Trump to not only match but surpass former President Ronald Reagan’s economic legacy.
During an appearance on “Kudlow,” Laffer broke down the key areas that Trump must focus on to create an economy that outshines Reagan’s.
“What does Trump have to do to beat the Ronald Reagan record in his second term? In his first term, he was better than Ronald Reagan, the single best president on economics. Now, I’m just talking economics, the single best president in U.S. history. What does he have to do to beat Reagan in the second term?” Laffer asked host Larry Kudlow.
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“There are things in monetary policy as one of them, creating jobs in the private sector through low-rate, broad-based, flat-tax, deregulation. All of you mentioned that government spending control there. That’s important regulatory reform, all of that he’s doing,” Laffer said.
Laffer said Trump must continue these efforts, particularly by lowering corporate and individual tax rates.
“I think he needs to bring the tax rates down to 25% in the next bill after the ‘Big Beautiful Bill.’ I think he needs to do a broadening of the tax base. But I think Donald Trump should focus on ‘What do I need to do to create the best economy the U.S. has ever had and even beat Ronald Reagan’s record?’ And I think he can do it if he really focuses,” Laffer said. (RELATED: ‘Really Doable’: Fmr Reagan Economist Explains How He Thinks Trump’s Policies Could Boost Economic Growth)
Recent jobs data shows the U.S. economy added 139,000 nonfarm payroll jobs in May, slightly surpassing economists’ forecasts, according to the Bureau of Labor Statistics (BLS). The unemployment rate held steady at 4.2%, the BLS reported.
Trump celebrated an economic win, as a major inflation indicator hit its lowest point in four years. The personal consumption expenditures index, a key tool used by the Federal Reserve to measure inflation, revealed a drop in inflation for April 2025, reaching a level not observed since March 2021, according to a report from the Commerce Department.
Trump said he would boost the U.S. economy and reduce prices during his second term, declaring in March that he is “fighting every day to make America affordable again.” In response to the May jobs report, the U.S. Department of Labor posted on X, saying that Trump’s “America First policies” continue to “fuel our economic revival and deliver for hardworking families.”
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