Republican presidential nominee Donald Trump outlined his economic policy at the Detroit Economic Club Monday, with a plan that would allow families to deduct child-care costs from their income taxes.
Here are five points he talked about Monday:
1. Trump called for a temporary moratorium on all new regulations from federal agencies. The moratorium would target environmental rules issued by the Environmental Protection Agency that reins in carbon dioxide emissions from power plants.
2. He called for a repeal of the "death tax," the estate tax that sits at 40 percent on estates larger than $5.45 million for individuals
3. He says he will implement across the board, simplify tax reform for all Americans, reducing what is owed by individuals and businesses. He vows reduce the tax brackets from seven to three -- 12, 25 and 33 percent.
4. Trump vows to lessen the tax burden on parents who pay for childcare because "we don't want it to be an economic disadvantage to have children." His plan would allow parents to deduct all of their child care expenses from their income tax. The current rule now allows a parent to deduct only $3,000 of child care expenses per year.
5. He has called for lowering the corporate tax rate to 15 percent. The current corporate rate is 35 percent.
Trump also said he will put into place stronger protections for American intellectual property, will repeal and replace Obamacare and will put forth a plan that increases school choice options for parents.
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