Trump says tax plan good for truckers
President wants to add ‘rocket fuel’ to economy
MIDDLETOWN, Pa. — President Donald Trump pitched his tax plan as a boost for truckers at an event Wednesday in Pennsylvania, saying, “America first means putting American truckers first.”
Trump appeared before about a thousand cheering people at an airplane hangar dramatically draped with American flags. Two big rigs were in the background.
“It will be rocket fuel for our economy,” Trump said of a plan that would cut corporate tax rates from 35 percent to 20 percent, reduce the number of personal income tax brackets and boost the standard deduction.
Trump said a cut to business taxes would help truckers because there will be “more products to deliver and more contracts to fill.” He also said his plan would benefit middle-class families by lowering rates, creating new jobs and making it easier for business owners to pass companies on to their children.
“So many people have come up to me and said give it to the middle class, give it to people who need it,” Trump said.
Trump highlighted the tax plan’s provisions aimed at encouraging international companies to bring back, or repatriate, cash that they’ve kept overseas. All told, there’s more than $1 trillion in cash held abroad by S&P 500 companies, according to Deutsche Bank.
Trump also said he would help truckers with a yet-to-be-announced infrastructure plan that he said would have “a special focus on roadways and highways.”
“They will be smooth, beautiful highways again,” he said.