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Republican presidential candidate Donald Trump gives a thumbs up after delivering an economic policy speech to the Detroit Economic Club, Monday, Aug. 8, 2016, in Detroit. (AP Photo/Evan Vucci)

Takeaways from Trump's economic plan: less taxes & regulation, trade resets, more energy

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Takeaways from Trump's economic plan

Donald Trump revealed an overhauled economic plan to the Detroit Economic Club on Monday. It covered a lot of ground -- some familiar and some new for him. 

One recurring theme throughout: a series of interruptions from protestors.

The full speech as prepared can be read at TIME.

For many American workers, their tax rate will be zero.
Donald Trump

Tax reform

Trump harped on simplifying the tax code, reducing the number of tax brackets from seven to three: 12 percent, 25 percent and 33 percent. 

Trump claimed 9 billion hours a year were "wasted" in tax code compliance. However, The Washington Post reported that number was 6 billion in 2013

Also promised: A maximum of 15 percent on corporate income tax, and fully tax-deductible child care.

Takeaways from Trump's economic plan

Regulation:

Trump claims over-regulation costs the U.S. $2 trillion a year; it's unclear where he got that number. He promised cutbacks in that field, including a "temporary moratorium" on new agency regulations and cancelling "illegal and overreaching" executive orders.

Isolation is not an option, only great and well-crafted trade deals are.
Donald Trump

Trade

Trump again attacked Hillary Clinton for her support of the Trans-Pacific Partnership. She has since come out against the trade deal, but Trump assured the audience she would change her mind if elected.

He promised crackdowns on "currency cheating" and intellectual property theft, as well as a renegotiation of the North American Free Trade Agreement. 

Clinton has also promised the latter, The Washington Post reports.

We will put new American metal into the spine of this nation. It will be American hands that rebuild this country.
Donald Trump

Energy and Infrastructure

President Obama's energy restrictions killed jobs, in Trump's words. He announced an "energy revolution" by "lifting all the restrictions on all sources of American energy." 

The "next generation" of roads and other infrastructure was also part of Trump's future. 

What do you think of Trump's economic plan?

Mandy Leon with Ring of Honor's weekend recap

For more news, check out our 60 Second Circa.

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