Donald Trump will propose one of the biggest tax cuts since the days of Ronald Reagan in a new economic blueprint to be unveiled next week, according to an adviser to the Republican presidential candidate.
Trump will reiterate his plan to cut the corporate tax rate to 15 percent, Heritage Foundation chief economist Stephen Moore said Friday in an interview with Bloomberg Television. At the same time, Trump has managed to whittle down the cost in terms of lost tax revenue by about two-thirds, to $3 trillion, he said, without specifying a timeline.
“If you’re a working-class American, there’s no question that an agenda that cuts taxes, that gets rids of regulations, redoes some of these trade deals in ways that are pro-America, is going to help,” said Moore, who was named Friday to Trump’s team of economic advisers. Other members include financiers John Paulson and Andy Beal and economists David Malpass and Peter Navarro.
Trump has promised to unveil a new policy agenda for “revitalizing the American economy” in a speech Monday at the Detroit Economic Club.