Economy

Bring Back Coal Jobs

"We're going to save that coal industry, believe me. I love those people," - Trump speech, May 2016

"The EPA is so restrictive that they are putting our energy companies out of business. And all you have to do is go to a great place like West Virginia or places like Ohio which is phenomenal or places like Pennsylvania and you see what they are doing to the people, miners and others in the energy business."

- Donald Trump, Second Presidential Debate, October 2016

Full Report
Last Updated
Bring Back Steel Manufacturing

"When I'm president, guess what? Steel is coming back to Pittsburgh!"
- Donald Trump speech, Philadelphia, PA, April 2016

"We are going to put American-produced steel back into the backbone of our country. This alone will create massive numbers of jobs."
- Donald Trump speech, Monessen, PA, June 2016

 

Full Report
Last Updated
Bring Back the Automobile Industry

"We're going to bring back the automobile industry bigger and better and stronger than ever before.... After we win, I’m going to be coming back to Michigan a lot. I’m going to be coming back every time we open a new factory or a new automobile plant, and we will do it and we will do lot of expansion,"

- Donald Trump speech, Grand Rapids, MI, November 2016

Full Report
Last Updated
Create $1 Trillion in Infrastructure Investment

As part of the American Energy & Infrastructure Act:

"Leverages public-private partnerships, and private investments through tax incentives, to spur $1 trillion in infrastructure investment over 10 years. It is revenue neutral."

"Leverage new revenues and work with financing authorities, public-private partnerships, and other prudent funding opportunities."

"Harness market forces to help attract new private infrastructure investments through a deficit-neutral system of infrastructure tax credits."

"According to the National Association of Manufacturers (NAM), without major improvements to our transportation systems, “the United States will lose more than 2.5 million jobs by 2025” (NAM, Build To Win, 2016). NAM estimates a “ten-year funding gap” of approximately $1 trillion. The Trump Infrastructure Plan is aimed at achieving a target of investment to fill this gap. NAM also found that $8 billion in infrastructure tax credits would support $226 billion in infrastructure investment over 10 years. Innovative financing programs also provide a 10-to-1 return on investment."

Full Report
Last Updated
Create Corporate Capital Investment Deduction

"Firms engaged in manufacturing in the US may elect to expense capital investment and lose the deductibility of corporate interest expense. An election once made can only be revoked within the first 3 years of election; if revoked, returns for prior years would need to be amended to show revised status. After 3 years, election is irrevocable."

Full Report
Last Updated
Create Thousands of New Jobs in Construction and Manufacturing

"Create thousands of new jobs in construction, steel manufacturing, and other sectors to build the transportation, water, telecommunications and energy infrastructure needed to enable new economic development in the U.S., all of which will generate new tax revenues."

Full Report
Last Updated
Dismantle Dodd-Frank Financial Reforms

"Dodd-Frank is a very negative force, which has developed a very bad name."
- Donald Trump Reuters interview, May 2016

Dodd-Frank is a package of financial reforms put in place by Congress after the 2007-2009 financial crisis that Republicans in Congress wish to repeal.

Full Report
Last Updated
Eliminate Most Corporate Tax Expenditures

"The Trump Plan... eliminates most corporate tax expenditures except for the Research and Development credit."

Full Report
Last Updated
Eliminate National Debt in 8 Years

"We’ve got to get rid of the $19 trillion in debt....  I would say over a period of eight years.... The power is trade. Our deals are so bad."

- Donald Trump interview with Bob Woodward, April 2016

Full Report
Last Updated
Eliminate Wasteful Regulations

"Ask all Department heads to submit a list of every wasteful and unnecessary regulation which kills jobs, and which does not improve public safety, and eliminate them."

Full Report
Last Updated
End Foreign Trading Abuses that Unfairly Impact American Workers

"I will begin taking the following seven actions to protect American workers:
...
FOURTH, I will direct the Secretary of Commerce and U.S. Trade Representative to identify all foreign trading abuses that unfairly impact American workers and direct them to use every tool under American and international law to end those abuses immediately;"

- "Donald Trump's Contract With The American Voter," October 2016

Full Report
Last Updated
End Offshoring of Jobs

"Establishes tariffs to discourage companies from laying off their workers in order to relocate in other countries and ship their products back to the U.S. tax-free." 
- Part of Trump's End The Offshoring Act

"If I was president, I’d say, “Congratulations. I understand that you’re building a nice $2.5 billion car factory in Mexico and that you’re going to take your cars and sell them to the United States zero tax, just flow them across the border.” And you say to yourself, “How does that help us,” right? “How does that help us? Where is that good”? It’s not. So I would say, “Congratulations. That’s the good news. Let me give you the bad news. Every car and every truck and every part manufactured in this plant that comes across the border, we’re going to charge you a 35-percent tax, and that tax is going to be paid simultaneously with the transaction, and that’s it." 
- Donald Trump's presidential announcement speech, June 2015

Full Report
Last Updated
Implement "Penny Plan" to Reduce Government Spending

"Well, we’re cutting back, I mean whether it’s a penny plan—which is something that, as simple as it is, I’ve always sort of liked.... We’re going to be doing smart budget cuts, budget cuts that will make it just as good or better than it is right now, but for a lot less money."
- Donald Trump on Fox Business, August 2016

Variations of the “penny plan,” or the “one-cent solution” as it’s called by activist Bruce Cook, cut one cent per dollar in the federal budget over a period of six or seven years and impose a spending cap until the budget is balanced. Different programs can see greater than 1 percent cuts—or no cuts—as long as overall spending is reduced by 1 percent each year.

Full Report
Last Updated
Impose Tariffs on Chinese Imports

"The only power that we have with China, is massive trade... I would do a tariff, yes — and they do it to us.... I would do a tax. and the tax, let me tell you what the tax should be … the tax should be 45 percent" 
- Donald Trump interview with The New York Times, January 2016

"The 45 percent is a threat that if they don't behave, if they don't follow the rules and regulations so that we can have it equal on both sides, we will tax you. It doesn't have to be 45, it could be less. But it has to be something because our country and our trade and our deals and most importantly our jobs are going to hell." 
- Donald Trump at the Republican Debate, March 2016

Full Report
Last Updated
Increase Business Tax Credits for On-Site Childcare

As part of the Affordable Childcare and Eldercare Act:

"The annual cap for the business tax credit for on-site childcare authorized by Sec. 205 of the Economic Growth and Tax Relief Reconciliation Act of 2001 would be increased to $500,000 per year (up from $150,000) and recapture period would be reduced to 5 years (down from 10 years).

Businesses that pay a portion of an employee’s childcare expenses can exclude those contributions from income. Employees who are recipients of direct employer subsidies would not be able to exclude those costs from the individual income tax and the costs of direct subsidies to employees could not be used as a cost eligible for the credit."

Full Report
Last Updated
Increase Use of Nationwide E-verify System

"This simple measure will protect jobs for unemployed Americans." 
- Trump immigration plan, August 2015

"We will ensure that E-verify is used to the fullest extent possible under existing law, and will work with Congress to strengthen and expand its use across the country."
- Trump Speech, Phoenix, AZ, August 2016

Full Report
Last Updated
Introduce End The Offshoring Act

"I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my Administration:
...
2. End The Offshoring Act Establishes tariffs to discourage companies from laying off their workers in order to relocate in other countries and ship their products back to the U.S. tax-free."

- "Donald Trump's Contract With The American Voter," October 2016

Full Report
Last Updated
Introduce Middle Class Tax Relief And Simplification Act

"I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my Administration:
1. Middle Class Tax Relief And Simplification Act. An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification, in combination with trade reform, regulatory relief, and lifting the restrictions on American energy. The largest tax reductions are for the middle class. A middle-class family with 2 children will get a 35% tax cut. The current number of brackets will be reduced from 7 to 3, and tax forms will likewise be greatly simplified. The business rate will be lowered from 35 to 15 percent, and the trillions of dollars of American corporate money overseas can now be brought back at a 10 percent rate."

- "Donald Trump's Contract With The American Voter," October 2016

Full Report
Last Updated
Label China a Currency Manipulator

"I will begin taking the following seven actions to protect American workers:
...
THIRD, I will direct my Secretary of the Treasury to label China a currency manipulator;"

- "Donald Trump's Contract With The American Voter," October 2016

Full Report
Last Updated
Lower Business Tax Rates and Eliminate Corporate AMT

As part of the Middle Class Tax Relief And Simplification Act:

"The Trump Plan will lower the business tax rate from 35 percent to 15 percent, and eliminate the corporate alternative minimum tax. This rate is available to all businesses, both small and large, that want to retain the profits within the business."

Full Report
Last Updated
Maintain an Average 3.5% GDP Growth

"Boost growth to 3.5 percent per year on average, with the potential to reach a 4 percent growth rate."

- Position Statement

" And we're bringing GDP from, really, 1 percent, which is what it is now, and if she got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent."

- Donald Trump, Third Presidential Debate, Oct 2016

Full Report
Last Updated
Make America Energy Independent

"Make America energy independent, create millions of new jobs, and protect clean air and clean water. We will conserve our natural habitats, reserves and resources. We will unleash an energy revolution that will bring vast new wealth to our country.

Declare American energy dominance a strategic economic and foreign policy goal of the United States.

Unleash America’s $50 trillion in untapped shale, oil, and natural gas reserves, plus hundreds of years in clean coal reserves.

Become, and stay, totally independent of any need to import energy from the OPEC cartel or any nations hostile to our interests.

Open onshore and offshore leasing on federal lands, eliminate moratorium on coal leasing, and open shale energy deposits.

Encourage the use of natural gas and other American energy resources that will both reduce emissions but also reduce the price of energy and increase our economic output."

Full Report
Last Updated
Never Default on National Debt Payments

"First of all, you never have to default because you print the money... if we can buy back government debt at a discount, in other words, if interest rates go up and we can buy bonds back at a discount -- if we are liquid enough as a country, we should do that... In other words, we can buy back debt at a discount."

- Donald Trump remarks, May 2016

Full Report
Last Updated
Pay Off Debt by Making Energy Companies Profitable

"I will bring our energy companies back and they will be able to compete and they’ll make money and pay off our national debt and budget deficits which are tremendous."

- Donald Trump, Second Presidential Debate, Oct 2016

Full Report
Last Updated
Privatize Funding of Student Loans

"We think [student loans] should be marketplace and market driven" 
- Sam Clovis, national co-chair and policy director of Trump's campaign, 
  Interview with Inside Higher Ed, May, 2016

The Trump campaign is working involve a complete overhaul of the federal student loan system, moving the government out of lending and restoring that role to private banks, as was the case before President Clinton partially and President Obama fully shifted loan origination from private lenders to the government.

Full Report
Last Updated
Protect Domestic Agriculture

"As President, he will fight for American farmers and their families. Mr. Trump knows that American farmers are the best in the world at growing the food and other products that people need to flourish. He knows that growing our Ag sector and supporting our nation’s farmers and ranchers are absolutely critical to making America great again.... All segments of the agriculture industry will have a say in the development of any legislation or rule making done or supported by the executive branch." 
- Statement from Trump's Agriculture Team, November 2016

"As president, I will be an aggressive proponent for defending the economic interests of American workers and farmers on the world stage. I will fight against unfair trade deals and foreign trade practices that disadvantage the United States. I strongly oppose TPP as drafted and will work hard to develop trade agreements that are in the national interest and benefit American workers, including our farmers." 
- Trump response to Penton Agriculture survey of presidential candidates

Full Report
Last Updated
Raise the Federal Minimum Wage

"The minimum wage has to go up. People are — at least $10, but it has to go up. But I think that states — federal — I think that states should really call the shot." 
- Trump press conference, July 2016

Full Report
Last Updated
Renegotiate or Withdraw from NAFTA

"I will begin taking the following seven actions to protect American workers:
FIRST, I will announce my intention to renegotiate NAFTA or withdraw from the deal under Article 2205;"

- "Donald Trump's Contract With The American Voter," October 2016

"I am going to renegotiate NAFTA. And if I can't make a great deal -- then we're going to terminate NAFTA and we're going to create new deals. We're going to have trade, but we're going -- we're going to terminate it, we're going to make a great trade deal."

- Donald Trump, Third Presidential Debate, Oct 2016

Full Report
Last Updated
Repatriate Offshore Corporate Profits

"The Trump Plan... will provide a deemed repatriation of corporate profits held offshore at a one-time tax rate of 10 percent."

Full Report
Last Updated
Repeal ACA Tax on Investment Income and AMT

As part of the Middle Class Tax Relief And Simplification Act:

"The 3.8 percent Obamacare tax on investment income will be repealed, as will the alternative minimum tax."

Full Report
Last Updated
Restructure Tax Brackets

As part of the Middle Class Tax Relief And Simplification Act:

"The Trump Plan will collapse the current seven tax brackets to three brackets. The rates and breakpoints are as shown below. Low-income Americans will have an effective income tax rate of 0. The tax brackets are similar to those in the House GOP tax blueprint.

  • Brackets & Rates for Married-Joint filers:
  • Less than $75,000: 12%
  • More than $75,000 but less than $225,000: 25%
  • More than $225,000: 33%

*Brackets for single filers are ½ of these amounts"

Individuals who are single and earn less than $25,000 per year will not owe any federal income taxes, along with married couples who jointly earn less than $50,000 per year. Trump estimates that this will help 75 million households. But there is one catch: These workers will still need to send a one-page form to the IRS stating: "I win."

Full Report
Last Updated
Stop "Zombie Spending"

"We can also stop funding programs that are not authorized in law. Congress spent $320 billion last year on 256 expired laws. Removing just 5 percent of that will reduce spending by almost $200 billion over 10 years."

- Donald Trump speech, Philadelphia, PA, September 2016

"Zombie spending" is spending on government programs that have had their congressional authorization lapse.

Full Report
Last Updated
Withdraw from the Trans-Pacific Partnership

"I will begin taking the following seven actions to protect American workers:
...
SECOND, I will announce our withdrawal from the Trans-Pacific Partnership;"

- "Donald Trump's Contract With The American Voter," October 2016

Full Report
Last Updated