US 2016: Trump To Outline Economic Policy

Republican Presidential Candidate, Donald Trump
Republican Presidential Candidate, Donald Trump

REPUBLICAN presidential nominee Donald Trump on Monday will outline an economic plan that includes tax help for working families in a major speech in Detroit as he tries to regain momentum lost from a series of self-inflicted wounds.

Trump is to speak at noon EDT (1600 GMT) to the Detroit Economic Club and advisers said he will focus on trade, taxes, immigration and regulation. The club, whose members are area business leaders, is a traditional venue for political candidates to discuss their economic vision.

The Detroit speech will be Trump’s first on the economy since announcing a 13-man team of economic advisers last week. It also comes after he slogged through perhaps his worst week as a candidate, getting entangled in a fight with the Muslim parents of an American soldier slain in Iraq in 2004 and sparring with Republican Party leaders.

A Trump campaign aide, who asked not to be identified, said Trump’s economic plan will lessen the tax burden on parents who pay for childcare because “we don’t want it to be an economic disadvantage to have children.”

Trump also will propose stronger protections for American intellectual property and a temporary moratorium on new regulations, the aide said.

Trump’s plans also include proposing a 15 percent corporate tax rate, an idea that is on his website. The current federal rate is 35 percent.

Members of Trump’s advisory group shared their views on policy with senior Trump aides on Sunday in a conference call, said banker Stephen Calk, one of the members who took part.

Calk described Trump’s vision for taxes as the biggest tax revolution since President Ronald Reagan in 1986. He said the plan was to lower the corporate tax burden and encourage U.S. companies with operations abroad to repatriate profits at a reduced tax rate.

The current corporate rate is 35 percent and Republicans have long sought to reduce it.

Trump’s rough ride last week, plus a boost in support for Democratic candidate Hillary Clinton after she accepted her party’s nomination at its Philadelphia convention, has taken its toll on him.

A Washington Post-ABC News poll released on Sunday gave Clinton an eight-point lead, 50 percent to 42 percent. A Reuters-Ipsos poll from last week had her in the lead with a smaller margin of three points.

Clinton will offer her own economic vision in a speech in Michigan on Thursday.