In Scranton, Pa., President Biden seized the spotlight to tout his tax plan while taking a jab at former President Donald Trump's financial struggles, particularly the dipping stock of his media company, Truth Social, The Hill reported.
Biden's mockery came amid Trump Media & Technology Group's announcement of expanding Truth Social's offerings to include live streaming options featuring news and a variety of programming, CNBC reported.
During his speech, Biden highlighted his tax plan's promise that individuals earning less than $400,000 would not face additional taxes, contrasting it with Trump's woes.
"If Trump's stock in the Truth Social, his company, drops any lower, he might do better under my tax plan than his," Biden quipped to laughter from the audience.
Trump Media's stock has sharply declined since its strong debut last month, dropping over 13 percent on Tuesday alone, settling at approximately $23 per share. With shares initially rising to $79 on its first day of trading, the steep fall has affected Trump's significant ownership stake in the company, nearly 58 percent.
In addition to Biden's jest, he revisited a familiar joke about a "defeated-looking guy" looking for help, likening him to Trump, drawing laughter and applause from his supporters.
Truth Social CEO Devin Nunes expressed excitement for the venture's future.
"We're excited to move forward with the next big phase for Truth Social," Nunes said in a prepared statement.
The company's press release outlined ambitious plans for its streaming platform, focusing on live TV, including news networks, religious channels, and family-friendly content.
Trump Media aims to introduce streaming content in three phases: a content delivery network for Truth Social's app, standalone streaming apps for various devices, and apps for home television.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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