Trump to propose deduction on childcare spending: aide
Republican presidential nominee Donald Trump will propose allowing parents to deduct childcare spending from U.S. income taxes in an economic policy speech on Monday, a campaign aide said.
The aide, who asked not to be identified, said on Sunday in outlining the plan: “We don’t want it to be an economic disadvantage to have children.” The aide said the campaign would have a more detailed childcare plan in the future.
Trump will also propose stronger protections for American intellectual property and a temporary moratorium on new regulations, the aide said.
“We’re going to give people a period of regulatory certainty where they know that if they start something today, the situation is not going to change tomorrow,” the aide said.
Seeking to move beyond a week of discord, Trump will outline in the speech in Detroit his plans for trade, taxes and regulation and contrast his ideas for economic growth with those of Democratic rival Hillary Clinton.
His plans include proposing a 15 percent corporate tax rate, an idea that is on his website. The current rate is 35 percent.
Senior aides and supporters said the New York businessman, making his first run at public office, wanted to put behind him his disputes with Republican Party leaders and the parents of a Muslim American soldier killed in Iraq.
With the economy a major issue, Trump will speak to business leaders of the Detroit Economic Club. On Thursday in Michigan, Clinton lays out a plan for the “biggest investment in good-paying jobs since World War Two,” her campaign said.
Clinton, a Democrat like President Barack Obama, will be buoyed in part by figures released on Friday showing U.S. employment rose more than expected for the second month in a row in July and wages picked up, bolstering expectations of faster economic growth.
Clinton has pledged that no family should pay more than 10 percent of its income on childcare. She has called for a tax cut to help middle-class parents cope with rising childcare costs and an expansion of a federally funded program that provides education and health services to low-income families with young children.
(Reporting by Emily Stephenson; Editing by Howard Goller)