Economics
Trump Touts Old-School Tax Cuts to Return Economy to Glory Days
- Nominee says looser energy regulations would unleash growth
- Plan risks government spending cuts or higher borrowing costs
Trump: Tax Simplification Major Feature of Plan
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Donald Trump has cast himself as the establishment’s worst nightmare, but his new economic plan borrows heavily from the traditional Republican playbook in seeking to return the U.S. economy to the pre-crisis days of headier growth.
Many of the measures proposed by Trump in a speech on Monday resemble those backed by House Speaker Paul Ryan and Mitt Romney, the Republican presidential nominee defeated in 2012. Trump is promising the biggest overhaul to the personal income-tax code since Ronald Reagan, as well as a deep cut in the corporate tax rate. He’s also pledging to end excessive regulation and lift restrictions on the nation’s energy producers.