Trump Says Tax Cuts Would Cost Americans $4.4 Trillion
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WASHINGTON (CBSMiami/AP) — For the first time, Donald Trump is spelling out how much his plans for America's economy would cost if he's elected to the White House.
Trump says that his tax cut would cost $4.4 trillion over 10 years, including the childcare plan he announced this week.
But he says the cost would be compensated by economic growth, as well as an infusion of new money from trade, energy and regulatory reforms.
Trump believes he can save almost $1 trillion over the next decade by saving one penny from every dollar of federal spending on programs, excluding defense and entitlement programs.
The plan also aims to dramatically scale back government regulations, including food safety and environmental measures like "The FDA Food Police," as his campaign dubbed the organization overseeing food safety.
He wants to eliminate the "Waters of The United States" rule aimed at protecting the America's waterways, and scrap the Environmental Protection Agency's Clean Power Plan, which sets limits on carbon pollution from power plants.
Trump has said he does not believe in climate change science.
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