Trump unveils more detailed economic policy plan

Donald Trump, addressing the Detroit Economic Club, today rolled out a new version of his economic plan. In it, he advocated tax-exempt child care expenses, adjusted his previous call for four income tax brackets to three and called for abolishing the so-called death tax.

Trump called his plan “the biggest tax reform since Reagan.” His plan would cut taxes on the middle class, he said, though some economists say the opposite would happen.

The Tax Policy Center estimates Trump’s plan would add $9.5 trillion to the deficit over the next decade. If enacted, this plan would be the largest tax cut in modern U.S. history.

In calling for all child care expenses to be tax-exempt, Trump goes further than his Democratic rival, Hillary Clinton. She has specified that she will be working to guarantee up to 12 weeks of paid family and medical leave for new mothers or to care for ill relatives, which would be paid for by the money taken in by her tax surcharge on multimillionaires.

During the Republican National Convention, Trump’s daughter, Ivanka, appeared to preview her father’s upcoming policies focused on families.

“As president, my father will change the labor laws that were put in place at a time in which women were not a significant part of the workforce and he will focus on making quality child care affordable and accessible for all,” she said.

This is Trump’s first major policy speech since he laid out his national security plan in June. His plan also calls for a moratorium on any new agency regulations; he will do so by executive order. And he will undo much of President Obama’s climate change reform by rescinding the Climate Action Plan, the Waters of the U.S. rule and the Paris Climate Agreement (limit global warming to 2 degrees Celsius),stopping all payments of U.S. tax dollars to U.N. global warming programs.

Many of the themes in this plan echo a plan previously released last September during a news conference at Trump Tower. Such ideas include his call for the repeal and replacement of Obamacare, withdrawal from the Trans-Pacific Partnership agreement (TPP), and a renegotiation of the North American Free Trade Agreement (NAFTA).

But noticeably absent are major spending cuts. Entitlements, military spending, or debt negotiation – three areas Trump has mentioned previously, that also account for more than 70% of the U.S. federal budget – are noticeably absent.

ABC News’ Rebecca Jarvis contributed to this report.