Trump planning to speak at Detroit Economic Club Monday

Brian J. O'Connor
Detroit News Finance Editor

Republican president candidate Donald Trump will make a major economic address at the Detroit Economic Club on Monday, the club announced Wednesday.

The New York businessman and reality TV star will visit the Motor City for a noon appearance at the Detroit Marriott Renaissance, the club said.

“We have a long tradition of hosting presidential candidates, and we’re delighted to do so on Monday,” CEO Beth Chappell said in a phone interview with The Detroit News.

The address to the Economic Club will be Trump’s first campaign stop at the club and his first appearance in Michigan since a two-day swing right before his victory in the March 8 Republican primary. Trump participated in the March 3 debate at the Fox Theatre and held rallies in Warren and Cadillac.

The Trump campaign is working to shift attention away from a wave of recent bad publicity, including the candidate’s public condemnation and criticism of the family of Capt. Humayun Khan, a Muslim Army officer killed by a suicide bomber in Iraq.

The announcement of the Economic Club appearance also followed rebukes by some Republicans, who said Tuesday they would be voting against Trump and in favor of Democratic nominee Hillary Rodham Clinton.

“I think the fact that he’s going to launch an economic agenda in Michigan is a big statement,” said Bobby Schostak, a Metro Detroit real estate developer and former Michigan Republican Party chairman.

“I think that’s sending a message that’s consistent with what he’s saying that he’ll bring jobs back to inside America. Southeast Michigan has been the most affected by that in the nation,” Schostak added.

Trump’s overall economic platform has so far been sparingly sketched out by his campaign.

Trump has proposed to eliminate all federal income tax for single workers earning less than $25,000 annually, or $50,000 for taxpayers who are married and filing jointly, a move that would eliminate taxes for 75 million taxpayers, according to the campaign. However, 77.5 million taxpayers already paid no individual income tax in 2015, according to the Tax Policy Center, mostly because they didn’t make enough money.

Other Trump proposals would eliminate the estate tax, the marriage penalty and the Alternative Minimum Tax, cap corporate taxes at 15 percent and lower the top four tax brackets of 39.6 percent, 35 percent, 33 percent and 28 percent to 25 percent.

Some conservative economists have hailed the proposed lowering of taxes.

In a late June jobs speech in Pittsburgh, Trump emphasized trade issues and praised the country’s early emphasis on taxing foreign goods through tariffs compared with the late 20th-century focus on reducing tariffs.

A June review by Moody’s Analytics found Trump’s policies, including trade, would ignite another a recession, costing the economy 3.5 million jobs and boosting the national jobless rate.

“During Mr. Trump’s presidency, the average American household’s after-inflation income will stagnate, and stock prices and real house values will decline,” Moody’s said.

During this year’s primary season, the Economic Club heard from Kentucky U.S. Sen. Rand Paul, Florida U.S. Sen. Marco Rubio and former Florida Gov. Jeb Bush.

Tickets to the event will be available Wednesday evening for members and guests at www.econclub.org.

boconnor@detroitnews.com

Chad Livengood contributed.