Congress Passes Comprehensive Tax Reform
Last Wednesday, for the first time in three decades, the House and Senate passed a sweeping tax reform bill, sending the bill to President Trump’s desk to be signed into law.
The $1.5 trillion bill would slash corporate tax rate to 21% from 35% permanently, reduce most individual rates and increase the standard deduction for taxpayers. Several provisions relating to individuals would expire within 10 years. The measure would also end Obamacare individual mandate that people must have health insurance, and it would limit individual deductions for state and local taxes.
ATA has been actively engaged on tax reform throughout the legislative process. In October, members of ATA joined President Trump in Harrisburg, Pennsylvania to rally support behind an overhaul.
The President, House and Senate are to be commended for putting the American people first. When trucks are moving, America is growing—and when this bill is signed into law, there will be more trucks on our roads, making the deliveries fueled by an expanding economy. The ATA and its members are proud supporters of this bill and welcome the countless economic benefits it will bring to the United States.
Information via ATA
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Posted on Fri, December 29, 2017
by Rebecca Chappell filed under