(FT) Donald Trump has expanded on his plans for tax cuts to stimulate the US economy and create jobs, relying on faster growth to limit the resulting increase in the budget deficit.
The Republican presidential nominee told the Economic Club of New York: “If we lower our taxes, remove destructive regulations . . . unleash the vast treasure of American energy, and negotiate trade deals that put America first, then there is no limit to the number of jobs we can create.”
His plans, scaled back from the more ambitious proposals he set out last year, include cuts in the federal corporate tax rate from 35 per cent to 15 per cent, and in the top federal income tax rate from 39.6 per cent to 33 per cent.
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