Trump vows tax cuts to 'jumpstart' United States

DETROIT >> Trying to turn the page after a tumultuous campaign stretch, Donald Trump promised he would provide deep tax cuts and jolt middle-class workers back to prosperity.

Trump’s speech Monday to the Detroit Economic Club reflected the Republican presidential nominee’s attempt to reboot and redirect the national conversation to his strength: the economy. Trump offered these new policy specifics:

Taxes: Individuals

Trump would consolidate the current seven individual income tax brackets for American down to three: 12u2009percent, 25u2009percent and 33u2009percent of income after deductions.

Trump revamped his previous proposal by increasing the amount that the highest individual income earners would pay, but it is still lower than the current rate of 39.6 percent. “For many American workers, their tax rate will be zero,” Trump said.

Taxes: Businesses

No business should pay more than 15u2009percent of its income in taxes, Trump said, a major drop from the current top corporate tax rate of 35u2009percent.

Trump plans to end the corporate strategy of deferring taxes on income earned outside the U.S. and slap a new “deemed repatriation tax’’ of 10u2009percent on more than $2u2009trillion in income that companies earned overseas.

Child care

Trump called for allowing parents to fully deduct the average cost of child care from their taxable income.

The current Child and Dependent Care tax credit includes caps for qualifying expenses that Trump’s plan would eliminate, though a senior campaign aide said there would be an income limit for eligibility.

Wall Street

Trump promised to identify and end “special-interest loopholes” that have buoyed Wall Street investors. On his hit list: The practice of “carried interest,” which pays a portion of investment gains to fund managers.

The tone

Delivering his speech from a teleprompter at a downtown convention center, Trump was interrupted every few minutes by protesters who stood on chairs and shouted at him before being pulled out of the room by security guards.

Though their chants were inaudible, the protests appeared coordinated, and Trump varied between powering through his speech and acknowledging the interruptions.

“It’s all very well plaed out,” Trump said of the protesters. He added at one point, “I will say, the Bernie Sanders people had far more energy and spirit.”

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Trump’s foe

Trump, of course, took aim at Democratic nominee Hillary Clinton, this time framed by the economy.

“The one common feature of every Hillary Clinton idea is that it punishes you for working and doing business in the United States,” Trump said. He said he wants to “jump-start America” and added, “It won’t even be that hard.”

The economy is an issue where Trump is polling even or ahead of Clinton, though she’s gaining ground. The Democratic nominee plaed her own economic speech — also in Detroit — on Thursday to ensure Trump doesn’t get the last word on an issue resonating deeply with voters.