HARRISBURG, PA – The American Trucking Associations (ATA) was on-hand in Pennsylvania this week to support President Trump in calling on the United States Congress to ease the corporate tax burden on the trucking industry.
ATA president and CEO Chris Spear said the group supports the President’s plan to reform the U.S. tax code and hopefully have it passed into law by the end of 2017.
“While trucking sustains the vitality of the U.S. economy, we also carry a heavy tax burden, paying the highest corporate tax rate of any transportation mode,” he said.
Trump addressed crowds gathered in Harrisburg Wednesday, including the ATA and its members, to talk about the Republican tax plan released in September. The new framework looks to reduce both the household and corporate income tax to try to encourage growth in the U.S. economy.
Trump offered his support to the trucking industry, saying truckers are crucial to the U.S. economy.
“When your trucks are moving, America is growing,” he said. “America First means putting American truckers first.”
ATA member and president of H.R. Ewell, Calvin Ewell, attended the rally and said the cuts would allow small businesses to add drivers and trucks, as well as allowing family businesses to remain in families without being faced with estate taxes.
“Trucking is a low-single-digit-margin business, and family-owned companies aren’t flush with cash, but they have millions in capital tied up in trucks and facilities, so eliminating this tax will preserve our small family trucking businesses as a small family business,” he said.
The new tax measures have been left light on details so far, with specifics being hammered out by Congressional tax-writing committees, but the President said the plan will ensure the benefits go to the middle class and not to the highest earners.
Despite the lack of details Trump’s speech said the plan could see salaries go up by as much as $4,000, however he offered no evidence or specifics to back up the figure.
The speech was part of a larger tour Trump is taking to stump for Republicans running in next year’s mid-term elections.