Fact-checking the 18-minute prime-time address
In a Dec. 17, 2025 speech on affordability, Trump overstated tax savings, drug-price cuts and the inflation he inherited.
NBC News examined eight claims from the address and found a mix of accurate, misleading and wrong statements. Wages were outpacing inflation, for example, but wage growth had slowed from 4.1 percent in January to 3.5 percent.
FactCheck.org noted Trump said many families would save $11,000 to $20,000 a year under his tax law, while the Tax Policy Center estimated the average 2025 tax cut at about $800. His claim of cutting drug prices by 400 to 600 percent is mathematically impossible, since a price cannot fall more than 100 percent.
CNN noted that inflation was 3.0 percent in January 2025, when he took office, the same as the latest reading available when he spoke, not the worst in decades as he suggested. It also flagged his repeated claim to have settled eight wars.
The receipts
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NBC News by Steve Kopack, Christina Wilkie and Julia Ainsley
Fact-checking Trump: economy, wages, immigration and moreFactCheck.org byline on original
FactChecking Trump's rapid-fire prime-time addressCNN byline on original
Fact check: Trump repeats numerous false claims in prime-time address