Donald to Propose Moratorium on Financial Regs, Repeal Estate Tax… MAKE ALL CHILD CARE EXPENSES TAX-DEDUCTIBLE
Trump to Propose Moratorium on New Financial Regulations
In a speech Monday in Detroit, the Republican presidential nominee will also call for a repeal of the estate tax.
Donald Trump will propose a temporary moratorium on new financial regulations in an economic speech Monday in Detroit in an effort to draw a stark contrast with the domestic policies of Hillary Clinton, who he says “punishes” the American economy.
The Republican presidential nominee’s speech will focus on providing regulatory relief for small businesses, according to senior campaign aides familiar with its contents. More broadly, Trump will say he will not propose any new financial regulations until the economy shows “significant growth,” the aides said. Trump has previously said he would repeal and replace the 2010 Dodd-Frank Act.
Trump will also propose a repeal of the estate tax, sometimes called the “death tax.” Under current law, the 40 percent tax applies only to estates larger than $5.45 million for individuals and $10.9 million for couples.
For U.S. businesses, Trump will propose a tax rate of 15 percent and suggest strengthening intellectual-property protections. He’s expected to call for three income-tax brackets, down from the current seven. He’ll call for the elimination of special tax treatment for carried-interest income at private-equity firms and other investment firms—the latter of which is a proposal his Democratic rival also supports.
Trump to propose making ALL childcare expenses tax-deductible as he unveils economic plan that slashes tax rates and kills off the ‘death’ tax
- Donald Trump outlines economic proposals Monday in Detroit speech
- Would make all childcare expenses tax-deductible for parents
- Wants to put the Keystone XL pipeline project back on the table
- All business tax rates would plummet to 15 per cent to encourage growth
- Proposes moratorium on economic regulations in Washington
- Would allow overseas assets to come back to the U.S. at reduced tax rate
- Ends the estate tax, which seizes as much as 40 per cent of assets at death
Republican presidential candidate Donald Trump will propose imposing a temporary moratorium on new federal regulations, reviving the Obama-stalled Keystone oil pipeline project, slashing business tax rates and making childcare expenses fully tax-deductible, in a landmark economic speech Monday.
A campaign aide who asked not to be identified told a Reuters reporter that ‘we don’t want it to be an economic disadvantage to have children.’
Trump’s proposals include measures to dramatically reduce income tax rates and simplify taxes for all Americans. He would trim the number of personal tax brackets from seven to just three.
He would also ‘remove bureaucrats who only know how to kill jobs; replace them with experts who know how to create jobs,’ according to an outline of the speech shared with a few reporters.
Trump will also propose a repeal of the estate tax, which Republicans derisively call the ‘death tax.’ That federal tax seizes 40 per cent of estates beginning with amounts over $5.45 million for individuals and $10.9 million for couples.
In contrast, the Hildabeast plans to continue the tax increases and government expansion that continue to hold the economy back. Like Trump or hate him, but the economic plan is a sound one that will get the US economy roaring again.