Republican presidential candidate Donald Trump would impose a temporary moratorium on new federal regulations and revive Transcanada's Keystone XL pipeline project, according to an outline of an economic speech obtained by Reuters.

Trump is expected to describe in more detail his economic plan in a speech on Aug. 8 in Detroit.

Trump's proposals include measures to simplify taxes for everyone and dramatically reduce the income tax and to "remove bureaucrats who only know how to kill jobs; replace them with experts who know how to create jobs," according to the outline.