DETROIT - Donald Trump sought to get his stumbling campaign back on track last week by unveiling a tax plan that would align with proposals from House Speaker Paul Ryan.
Trump’s new proposal would more than halve the number of income tax brackets and reduce rates across the board to 12%, 25% and 33%. That’s higher than the 0%, 10% and 20% backers he proposed last year along with a 25% rate on top earners.
The Republican nominee, who was repeatedly interrupted by protestors, unveiled his plan a week after he feuded with Ryan, initially refusing to endorse him as he faces a primary challenge. He ultimately backed Ryan on Friday after a tumultuous week of intra-party fighting.
Speaking at the Detroit Economic Club Monday, Trump laid out proposals to achieve an American “economic renewal,” including a moratorium on government regulations, a proposal to make childcare expenses fully tax deductible, and other proposals his campaign argued will benefit the middle class.
Democrat Hillary Clinton unveiled her own economic plan Thursday in suburban Detroit, calling for the wealthy to pay their share, and attacking Trump's plan as 'unrealistic.'
Clinton also pushed again for free college tuition for middle class students, and again insisted that Trump should release his tax returns, something Clinton and running mate Tim Kaine did late this week.
So whose economic plan makes more sense? In the video above, financial planner Peter Dunn and NFIB state director Barbara Quandt Underwood discuss the economic proposals and what they'd mean for Hoosiers.
NFIB's national office came out in support of Trump's economic plan this past week.
In a statement, the organizations's president & CEO Juanita Duggin said:
"Mr. Trump’s plan would eliminate the disparity between the way large corporations and small businesses are treated under the code and all businesses would be taxed at a substantially lower rate. Those reforms would encourage more small business investment, job creation, and economic growth.”