Trump vows to jolt economy with tax cuts, domestic investment

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Trump also touted his plan to eliminate the estate tax, put a moratorium on new federal regulations and reduce the corporate tax rate from 35 percent to 15 percent, in his speech at the Detroit Economic Club.

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In his speech Monday, Trump also announced his plan to allow parents to fully deduct the cost of childcare from their taxable income. He also called again for boosting domestic energy production -- a plan his campaign estimates can add $6 trillion in local, state and federal revenue over the next four decades.

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This wasn't the first time Trump set out his economic vision. He first unveiled his tax plan in the fall of 2015, framing it as a boon to the middle class. "It's going to cost me a fortune," he told reporters as he vowed to lower taxes across the board without exploding the deficit.

But a host of independent groups crunching the numbers soon concluded otherwise. The plan, they said, dramatically favored the wealthy over the middle class and would increase the debt by as much as $10 trillion over the next decade.