Donald Trump delivered a major economic speech in Detroit, Michigan on Monday. The speech comes as Trump is rebooting his campaign with a greater focus on policy differences between himself and Hillary Clinton.
Halt to new federal regulations
Trump called for a temporary halt to new federal regulations and will seek to roll back rules that reduce or hinder employment, including environmental rules and regulations issued by the EPA. He called for reviving the Keystone pipeline project and pledged to "remove bureaucrats who only know how to kill jobs; and replace them with experts who know how to create jobs.”
Make all child-care expenses deductible
Trump’s plan will propose tax breaks for families and corporations. His plans include reducing the current 35 percent corporate tax rate to 15 percent and ending the estate tax. According to a Trump aide, the Republican nominee will propose allowing families deduct child-care expenses saying, "We don't want it to be an economic disadvantage to have children."
Trump outlined a tax cut plan that would lower the tax rate for individuals and corporations from the current top rate of 39.6 percent to 33 percent. Trump had earlier proposed reducing the top rate to 25 percent but has changed his position in order to more quickly reduce the national deficit. Trump also said that all U.S. policies should be geared towards making and keeping jobs at home, not abroad. He proposed a 10% tax on wealth “parked overseas.”
Trump has pledged to renegotiate the North American Free Trade Agreement and withdraw from the Trans-Pacific Partnership, positions that Sen. Bernie Sanders took during the primaries.