Republican presidential nominee Donald Trump outlined his economic policy at the Detroit Economic Club Monday, with a plan that would allow families to deduct child-care costs from their income taxes.
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Trump called his plan “the biggest tax reform since [Ronald] Reagan”.
“We are in a competition with the world, and I want America to win”, Trump told the Detroit Economic Club, as he highlighted “disastrous” policies that he said have snuffed out U.S. jobs in the almost eight years of Barack Obama’s presidency.
Trump promised that more information on the specifics of his plan would be made available in the coming weeks. When we do that, we’re comfortable that we can get the agenda and the narrative of the campaign back on where it belongs, which is comparing the tepid economy under Obama and Clinton, versus the kind of growth economy that Mr. Trump wants to build, ” he said.
Clinton famously said she wants to kill coal, and the Democratic platform calls for producing 50 percent of America’s electrical output from “clean sources” within a decade. Though their chants were inaudible, the protests appeared coordinated, and Trump varied between powering through his speech and acknowledging the interruptions.
The lone male protester shouted that Trump had “tiny hands”. “It is just plain wrong, and most people agree with that”.
Loopholes and deductions for the very rich and for corporations would be reduced or eliminated and end the deferral of taxes on corporate income earned overseas. More taxes, more regulations, more bureaucrats, more restrictions on american energy and on American production. His plan calls for reducing the number of tax brackets down to three. Trump’s proposal from past year had envisioned four brackets: zero, 10 percent, 20 percent and 25 percent. The Republican presidential nominee laid out his plan to boost US growth on Monday, calling for corporate tax cuts and a halt to new financial regulation.
Mr Trump is targeting so-called “rust bucket” manufacturing states including Michigan, Pennsylvania and OH to pull off an against-the-odds election win.
Detroit, with its devastated real estate market and dearth of jobs, has come to symbolize the nation’s broader struggle to recover from the recession and restore manufacturing jobs.
“The city of Detroit is the living, breathing example of my opponent’s failed economic agenda”, he said.
“She’s the candidate of the past and ours is the campaign of the future”, Trump plans to say in his speech, according to an excerpt provided to Bloomberg News. “She is the candidate of the past”.
The back-to-back visits from both major party presidential candidates come on the heels of a Detroit News-WDIV poll of MI voters showing Clinton opening a 9-point lead over Trump.
The Democratic nominee planned her own economic speech – also in Detroit – on Thursday to ensure Trump doesn’t get the last word on an issue resonating deeply with voters. He ultimately backed Ryan on Friday after a tumultuous week of intra-party fighting.
Trump is also expected to spend much of the speech contrasting his approach with that of Clinton, whom his campaign accuses of pushing the same “stale, big government policy prescriptions that have choked economic growth in America and led to over 40 years of wage stagnation”.
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Numerous themes in this plan echo a plan he released last September during a news conference at Trump Tower in New York City – including a call for the repeal and replacement of “Obamacare”, withdrawal from the Trans-Pacific Partnership agreement and a renegotiation of the North American Free Trade Agreement. Associated Press writer Nicholas Riccardi contributed to from Denver.
