GPS News  
SUPERPOWERS
Trump's economic plan
by Staff Writers
Washington (AFP) Aug 8, 2016


Donald Trump on Monday laid out his plan to lower taxes, freeze financial regulations and trigger an energy revival which he said would spur economic growth and "open a new chapter in American prosperity."

It was a broad-brush outline with some meaty specifics, aimed in part at reviving the Republican presidential nominee's flagging campaign after a series of missteps in recent weeks that sent him careening off message.

Here are highlights of the Trump economic plan.

- Lower taxes -

The lynchpin of Trump's plan is the slashing of various taxes on American individuals and corporations, a proposal he said would lead to the biggest tax reform since president Ronald Reagan in the 1980s.

He would sharply reduce corporate tax to 15 percent from the current 35 percent, and set a 10 percent tax on what he described as trillions of dollars that US businesses have "now parked overseas" but want to repatriate into the country.

Personal income tax rates would be compressed from seven brackets to just three, with today's highest rate of 39.6 percent shrinking to 33 percent.

He would also abolish the estate tax, and said he would allow parents to "fully deduct" the cost of childcare spending from their taxes.

- Moratorium on regulations -

Trump would immediately slap a moratorium on all federal agency regulations that he believes are needlessly killing jobs. He said he would "cut regulations massively."

Already on the chopping block would be the Environmental Protection Agency's Clean Power Plan, which forces investment in renewable energy at the expense of coal and natural gas, and the Interior Department's moratorium on coal mining permits.

He would also repeal President Barack Obama's landmark health care law.

- Trade reform -

Trump is opposed to the proposed Trans-Pacific Partnership backed by Obama and Republican congressional leaders. It was signed by his administration and 11 other nations in 2015, but hit a snag in Congress.

He wants to abolish the North American Free Trade Agreement with Canada and Mexico that was signed into law in 1994, describing it as a pact that has "shipped your jobs to Mexico and other countries."

Trump reiterated his support for strengthened protections against currency manipulation that allow other countries to "cheat by unfairly subsidizing their goods."

China, warned Trump, "is responsible for nearly half of our entire trade deficit." He said he would go after Beijing for its "rampant" theft of intellectual property, its dumping of Chinese products on the US market and currency manipulation.

- Energy revival -

Trump called for an "energy revolution," starting with cancellation of Obama's climate plan and the Paris Climate Agreement, and a halt of US payments to United Nations global warming programs.

He would also expand offshore drilling, increase natural gas production, and reverse what he called Obama's "war on coal" that led to the loss of thousands of energy industry jobs.

He would call on Canadian firm TransCanada to renew its permit application for building Keystone XL, the crude oil pipeline between Canada and US oil refineries rejected by the Obama administration last year.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Learn about the Superpowers of the 21st Century at SpaceWar.com
Learn about nuclear weapons doctrine and defense at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
SUPERPOWERS
Turkey's Erdogan accuses West of 'supporting coup plotters'
Istanbul (AFP) Aug 3, 2016
President Recep Tayyip Erdogan has lashed out at Turkey's Western allies over last month's failed putsch, accusing them of supporting "terror" and demanding Washington extradite a preacher he says orchestrated the coup. Erdogan, who blames the attempt to unseat him on US-based preacher Fethullah Gulen, described the July 15 coup as a "scenario written from outside" in an allusion to foreign ... read more


SUPERPOWERS
Rice crops that can save farmers money and cut pollution

Brazilian restaurants turn waste back into food

Ancient rice DNA data provides new view of domestication history

Mulching plus remediation corrects contaminated lawns

SUPERPOWERS
Integration of novel materials with silicon chips makes new 'smart' devices possible

Russian physicists discover a new approach for building quantum computers

Hybrid Computers Set to Shine

Vortex laser offers hope for Moore's Law

SUPERPOWERS
Amazon 'Prime' plane takes flight

Malaysia says MH370 pilot flew Indian Ocean route on simulator

China's Hainan Airlines buys stake in Brazil's Azul

First MV-22B Osprey with 3D-printed, safety-critical parts takes flight

SUPERPOWERS
Tesla loss widens as company works to speed production

Chinese media question 'straddling bus' firm

German state Bavaria to sue VW over pollution scandal

Ride-share battle ends with Didi buying Uber China operations

SUPERPOWERS
China 'cannot tolerate accusations' on Britain investment

China manufacturing contracts in July: govt

Japan in first half-year trade surplus since Fukushima

Beijing slaps EU, Japan, S. Korea with steel duties

SUPERPOWERS
Rainforest greener during 'dry' season

New model is first to predict tree growth in earliest stages of tree life

Effects of past tropical deforestation will be felt for years to come

Trees' surprising role in the boreal water cycle quantified

SUPERPOWERS
Collecting Fingerprints in the Sky

ISRO to use radar imaging satellite to locate missing IAF plane

India to launch EO satellite jointly developed with US in 2021

Landsat - The watchman that never sleeps

SUPERPOWERS
Beating the heat a challenge at the nanoscale

Borrowing from pastry chefs, engineers create nanolayered composites

New nanoscale technologies could revolutionize microscopes, study of disease

Biggest Little Self-Assembling Protein Nanostructures Created









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.