The Note: Trump Talks Economy

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August 8, 2016

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Trump Talks Economy

Trump to Propose Excluding Child Care Expenses From Taxation in Major Economic Speech

Republican presidential nominee Donald Trump is set to propose excluding child care expenses from taxation in a major economic speech today, according to a senior-level campaign source. In a broad address aimed at rounding out a more robust economic policy, Trump is expected to propose ending the estate tax -- sometimes dubbed the "death tax" -- and reducing taxes across the board, calling the proposal the biggest tax reform since Ronald Reagan's tenure. Trump will also continue his focus on trade agreements such as NAFTA, as well as reducing regulations, focusing on domestic energy sources and reducing business income taxes to 15 percent. More from ABC's CANDACE SMITH, JOHN SANTUCCI and RYAN STRUYK: http://abcn.ws/2b836Qy

Backstory

Trump first revealed his economic ideas and tax plan last September during a news conference at Trump Tower. The speech in Detroit will "expand on the plan last fall, delivering a more detailed economic proposal," the campaign source told ABC News. Trump is also expected to be joined by some members of his newly established economic advisory panel. The speech is slated for 11:30 a.m. in Detroit. http://abcn.ws/2b836Qy

Analysis -- ABC's Rick Klein

It's not just that Donald Trump needs to pivot – it's that he needs to pivot away from being what's made him Donald Trump. That means traditional-candidate Trump, maybe even boring-candidate Trump, reading from notes or TelePrompTers, and staying away from interviews and Twitter for a while. (Not coincidentally, Hillary Clinton is quite good at all of that.) Monday's speech on the economy, where Trump is expected to lay out his plans for tax cuts and make the case against Hillary Clinton's plans, will stand as proof (or not) that he gets the message. But the damage already done is severe: The latest ABC News/Washington Post poll makes clear he squandered his convention opportunities, and then stomped all over the post-convention period with a counter-productive series of feuds. Nearly three-fourths of all voters, and six in 10 Republicans, disapproved of his handling of his dispute with the Khan family. He can put that, along with his intra-party fight with Paul Ryan, John McCain, and Kelly Ayotte, behind him now but doing something he's not that good at: not making news. Remember, with Trump, dominating news cycles is not his problem. It's dominating them with a message his party can rally behind that has proved vexing.