What’s in Trump's Economic Plan?

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What’s in Trump's Economic Plan?

The economy is one of the major issues in this presidential race, with both candidates touting plans to create jobs. On August 8, GOP presidential candidate gave a speech outlining his “America First economic plan.”

What did Trump pledge to do in this speech?

  • Eliminate the carried interest deduction for income taxes
  • Reduce the 7 income tax brackets to 3. These would be rates at 12%, 25%, and 33%. In contrast, the current income tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%
  • Cut the corporate income tax to 15% from 35%
  • Allow families to take a full deduction for childcare expenses
  • Permit American companies to repatriate income back into the U.S. with a 10% tax
  • Eliminate the “death tax,” also known as the estate tax
  • Issue a temporary moratorium on new federal regulations
  • Cancel all “illegal and overreaching” executive orders
  • Ask agencies to compile a list of unnecessary rules or rules that do not improve public safety, and then eliminate them
  • Withdraw from the Trans-Pacific Partnership
  • Impose tariffs on countries that “unfairly subsidiz[e] their goods”
  • Renegotiate NAFTA
  • Enforce American trade agreements with China
  • Lift federal restrictions on American energy development
  • Repeal and replace the Affordable Care Act, or Obamacare
  • Force military allies to pay “their fair share” for protection
  • Reform the Veterans Health Administration

What do you think about Donald Trump’s economic plan?

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