Excerpt from the Washington Times:
Donald Trump promised to usher in a new era of economic prosperity, saying Thursday that his plans for tax cuts and new trade deals could pave the way for 4 percent annual growth and 25 million new jobs over the next decade.
Combined with an overhaul of the nation’s energy and regulatory policies, Mr. Trump said he plans to spur levels of economic growth the nation has not experienced since President Bill Clinton’s final year in office.
The GOP presidential nominee said that kind of growth would be enough to cover the costs of his agenda, which includes a series of new spending proposals and lost revenue.
“We are a nation that tamed the West, dug out the Panama Canal, won two World Wars and put a man on the Moon,” Mr. Trump said at the Economic Club of New York. “It is time to start thinking big once again.”
He said his goal was 4 percent growth, but his current plans will get at least 3.5 percent.
He said his proposals to cut individual and corporate taxes, which he laid out last month, carry a $4.4 trillion price tag.
Much of that lost revenue to the government would be recouped by a stronger economy, he said.
He said the rest of the money could be made up through a deeper cut in non-defense discretionary spending — likely a non-starter among Democrats on Capitol Hill.
Mr. Trump said he would leave entitlements such as Medicare and Social Security untouched.
And he again promised to cap tax deductions and close “special interest loopholes” for the wealthy — though he has not said what they would be.
Read more at the Washington Times.
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