Trump outlines vision for economy, vows large tax cuts
Donald Trump outlined his vision for managing the nation’s economy as president Thursday, promising that his plans to lower taxes by $4.4 trillion over a decade and cut regulations would lead to booming growth, create millions of jobs and even cut into the nation’s budget deficit.
“My plan will embrace the truth that people flourish under a minimum government burden and will tap into the incredible, unrealized potential of our workers and their dreams,” Trump said in a speech to the Economic Club of New York.
The Republican nominee said his plans would raise the nation’s economic growth rate to at least 3.5 percent, well above its current rate of about 2 percent, and create 25 million new jobs over the next 10 years.
For Trump’s plans to succeed, they would have to overcome forces in the economy, such as rising automation, an aging population and low-wage competition overseas.