Trump to roll out huge tax cuts and a golden ‘three years’ to supercharge the financial system in his State of the Union: Live updates

On Feb 25, 2026

By RACHEL BOWMAN, US SENIOR NEWS REPORTER and KATELYN CARALLE, SENIOR U.S. POLITICAL REPORTER and VICTORIA CHURCHILL, US POLITICAL REPORTER and PHILLIP NIETO, US POLITICAL REPORTER

Updated: 01:35, 25 February 2026

President Donald Trump will address the nation during his State of the Union speech from the US Capitol building tonight at 9pm ET.

He previewed his highly-anticipated address during a traditional, off-the-record lunch with network news anchors today.

‘[Trump] said Iran wants a deal more than I do, but they just can’t say the magic words, which he said was that they won’t build a bomb,’ ABC News Chief Washington Correspondent Jonathan Karl said of the lunch.

He is expected to address his policies to supercharge the US economy as well as the president’s rewiring of global trade and tax cuts. At the same lunch, he told reporters that he would ‘advocate for a form of tax cuts, corporate and mostly personal.’

Earlier, the president warned that his speech would be lengthy, and he is expected to boast about the economy, arguing that the country is ‘strong, prosperous and respected’ as it enters its 250th year.

‘It’s going to be a long speech because we have so much to talk about,’ the Trump said on Monday.

Meanwhile, Democrats have unleashed a sabotage plot to stage walk-outs during Trump’s speech as he prepares to reset his agenda.

Follow along for the latest updates.

Trump previews speech with reporters

Donald Trump previewed his speech to reporters during a traditional, off-the-record lunch with network news anchors.

CNN’s Jake Tapper and ABC News Chief Washington Correspondent Jonathan Karl revealed what they learned at the lunch.

‘He gave us a little bit on the record about some of what he’s going to say tonight, including plans to advocate for a form of tax cuts corporate and mostly personal, he said, and to announce deals with AI and tech firms for data centers that consume so much electricity from local communities,’ Tapper said.

‘On the record he said, tonight’s pitch would be that, quote, the country is about to have the best three years economically in the nation’s history, and it’s already started. Unquote.’

Trump reportedly revealed the ‘magic words’ Iran refuses to say to prevent a strike

‘He said Iran wants a deal more than I do, but they just can’t say the magic words, which he said was that they won’t build a bomb,’ Karl said of the lunch on X.

Tapper added, ‘Amid the massive US military buildup and threat of conflict with Iran, the president said that Tehran wants to make a deal more than he does but so far, the Iranians have been unwilling to say explicitly the sacred phrase that they will not build nuclear weapons,’ Tapper said.

Mandatory Credit: Photo by Pool/ABACA/Shutterstock (16693138bu) United States President Donald J Trump gestures as he attends an Angel Families Remembrance Ceremony in the East Room of the White House in Washington, DC, USA, on Monday, February 23, 2026. President Trump is signing a proclamation honoring the families of those killed by undocumented immigrants. Trump Attends the Angel Families Remembrance Ceremony, Washington, United States - 23 Feb 2026

Trump’s make-or-break State of the Union: Join the Daily Mail and 2WAY LIVE for the president’s historic speech

The eyes of America – and much of the world – will be fixed on Donald Trump on Tuesday night as he strides to the Speaker’s rostrum to deliver his historic fifth State of the Union.

It comes at a moment of explosive global tension. The standoff with Iran is edging toward boiling point.

Cartel violence is tearing through Mexican tourist hotspots. And back home, the White House is sharpening its message with the high-stakes November midterms looming large.

Donald and Melania Trump depart the White House

Donald Trump and First Lady Melania left the White House at 8:33 PM.

They are driving 16 blocks to the US Capitol for his first State of the Union address of his second term.

Barron Trump makes State of the Union appearance

Barron Trump, along with his siblings Donald Trump Jr., Eric Trump, Ivanka Trump and Tiffany Trump have gathered for their father’s State of the Union speech.

Dems to deliver Spanish-language response

California Senator Alex Padilla will deliver the Democrat’s Spanish-language response to Trump’s State of the Union.

Padilla, who in June was forcefully removed from Homeland Security Secretary Kristi Noem’s news conference in Los Angeles as he tried to speak up about immigration raids, said in a statement that there is a better path than the one Trump has offered: ‘one that lowers costs, safeguards our democracy, and reins in rogue federal agencies.’

Speaking at a press conference with Senate Democrats on Tuesday ahead of Trump’s address, Padilla said his speech would include a ‘call to action.’

‘Nobody is coming to rescue us. Only Americans will save America,’ Padilla said. ‘That will be the contrast to the lies and deceptions of President Trump tonight.’

U.S. Senator Alex Padilla (D-CA) speaks at a press conference with Senate Minority Leader Chuck Schumer (D-NY) and other Senate Democrats on U.S. President Donald Trump's upcoming State of the Union speech on Capitol Hill in Washington, D.C., February 24, 2026. REUTERS/ Annabelle Gordon

Kristi Noem turns up to State of the Union

Homeland Security Secretary Kristi Noem arrives at the US Capitol.

Homeland Security Secretary Kristi Noem arrives before President Donald Trump delivers the State of the Union address to a joint session of Congress in the House chamber at the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026. (AP Photo/Mark Schiefelbein)

U.S. Secretary of Homeland Security Kristi Noem arrives for U.S. President Donald Trump's State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., February 24, 2026. REUTERS/Kylie Cooper

Marco Rubio arrives at the Capitol

Secretary of State Marco Rubio arrives for Trump’s State of the Union.

Secretary of State Marco Rubio arrives before President Donald Trump delivers the State of the Union address to a joint session of Congress in the House chamber at the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026. (AP Photo/Mark Schiefelbein)

RFK Jr. enters the Capitol

US Secretary of Health and Human Services Robert F. Kennedy Jr. arrives.

Secretary of Health and Human Services Robert F. Kennedy Jr. is seen before President Donald Trump delivers the State of the Union address to a joint session of Congress at the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026. (AP Photo/Allison Robbert)

US jets land in Israel ahead of Trump’s speech

Several US military planes landed in Israel on Tuesday as Donald Trump prepares for his first official State of the Union address of his second term.

US officials confirm that about a dozen US Air Force F-22 Raptor fighter jets landed in Israel amid threats from the president of impending strikes in Iran if they don’t strike a nuclear deal.

Trump is expected to delivery a lengthy speech where he will tout his hawkish approach to dealing with Iran.