Donald Trump Lays Out Tax Plan

Republican candidate says he will eliminate income taxes for more than half of all Americans.
2:34 | 09/29/15

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Transcript for Donald Trump Lays Out Tax Plan
Good evening and we begin tonight with Donald Trump and his tax cuts. Declaring today that if elected, he will eliminate neincome taxes for more than half of all Americans. Promising to, quote, simplify the tax code in America. Couples making less than $50,000 a year and the poor, no income taxes at all. Some critics now asking, how will trump pay for it? Just as his opponents gain in the polls, one declaring, I'm not interested in being part of his freak show. So, how much would you pay under a president trump? ABC's Tom llamas leads us off. Reporter: Tonight, some real details from Donald Trump. This is my wheelhouse. That's what I do well. The economy is what I do well. Reporter: Trump promising to eliminate income taxes entirely for more than half the country. An Andrew: Socc most hen ispumyi unifo on, the age St lea the ages lve all ous. We simplbecome ks again. I ink all us playfothat verreason. Itakes usthchd weile went re thjusts wadeli and M Bai'o wh ti wars. You E th we're simplifying and we're getting rid of deductions that are actually obsolete. Reporter: Trump's tax plan comes as his lead in the polls shrinks and he faces new attacks from senator Marco Rubio. I'm not interested in the back and forth, to be a member or a part of his freak show. Reporter: I asked trump about Rubio's choice of words. Senator Rubio described your campaign as a freak show. You take a lot of pride in your campaign. Look, look. Senator Rubio is a lightweight. We understand that. He wouldn't be able to do this. He wouldn't know a trade deal from any other deal. Reporter: Rubio had no comment today on trump's tax plan and neither did Carly fiorina. Both candidates now on the rise. Last night, that scare for fiorina. The curtains at her event crashing down around her. Fiorina walked away without a scratch for her surging campaign the show goes on. David, tonight, prominent anti-tax crusaders praising the trump plan, but Hillary Clinton blasting it, calling it a huge tax break for billionaires and many wondering how trump will pay for all of it.

This transcript has been automatically generated and may not be 100% accurate.

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