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Transcripts for CNN CNN Newsroom Live 20150929 05:07:00

now, u.s. republican candidate donald trump has release vealed a tax plan that promises economic growths quell as tax cuts for many americans. billionaire businessman says this is his thing, it s in his wheelhouse, it s what he does. this is his expertise but does all of this measure up against his rival s plan? these numbers are really spectacular. reporter: tonight donald trump delivering more policy proposals. unveiling a plan that slashes taxers for the wealthy. this still looks like a big tax cut. this is a tax reduction. big tax reduction. includesing for the upper income. reporter: under trump s plan, individuals earning less than $25,000 and married couples earning less than $50,000 would pay nothing. but trump also gives the wealthiest americans like himself a huge tax break, cutting the rate from nearly 40% to just 25%.

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Detailed text transcripts for TV channel - FOXNEWS - 20150928:17:02:00

there was 3.9 percent and that was higher than forecast. the donald trump tax plan. 73 million household stop paying. single folks making less than 25 k or couples less than foist k. and 31 other million households will see forms simplified and they would save a thousand each. the big question, how are they to be paid for? trump said mostly by closing loop holes that are helping the rich and upper middle class. but he didn t think they will mind and this is why. we are taking away deductions and that s one of the reasons we ll lower it, so it is a tax reduction. big tax reduction including for the upper income. i believe the economy will do so

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