Free Markets

President Trump Uses Truckers To Put A Middle-Class Stamp On Vague Tax Reform

President Trump on Wednesday took his case for tax reform to small business owners from the trucking industry in Pennsylvania.

While technically not labelled as a political rally, the president has found he is at his most comfortable keeping to campaign-style event. So he’s will likely continue to return to this type of event throughout his term in office.

His speech came just a week before Senate Republicans need to decide whether to push forward this his tax plan. They are planning scheduled to vote on a budget that, with new tax cuts, would raise the deficit by as much as $1.5 trillion over 10 years.

Sen. Rand Paul, R-Kentucky, is expected to oppose the budget resolution. He has consistently voted against any budget that doesn’t eliminate the deficit. Given Republican’s troubles with health care, passage of Trump’s tax plan is not assured.

A broad definition of the trucking industry meets an even broader definition of tax reform

In the leadup to President Trump’s speech in Harrisburg, Pennsylvania ,the White House touted a broad definition of the trucking industry, allowing administration officials to assert that “Trucking is the number one employer in about 29 states.”

While not stating exactly how, administration officials say that the president’s tax reform agenda will result in a middle-class tax cut. Wednesday’s attempted “reboot” of the push from tax reform is expected to include a claim that enactment of the Trump plan will result in a $4,000 pay raise for the average American family.

Excerpts from the Trump’s prepared remarks address changes to the corporate tax rate and a lowered repatriation tax, which is focused on financial assets which corporations currently hold overseas.

Without any specifics given or economic calculations in support of his claim, the administration said that these changes alone will give the average American a $4,000 pay raise.

Another portion of the tax reform addressed by Trump is a tax cut for individuals operating their own businesses. An expected proposal of a lowered rate for those – like independent truckers – who are the only employee of their small business, will establish a lowered rate for “pass-through” businesses.

Democrats are widely panning the rough outlines thus far announced, the administration has stuck to previous statements that the details of tax reform will be left to Congressional Republicans.

White House Press Secretary Sarah Huckabee Sanders said during Tuesday’s White House press briefing:

They [Congress] campaigned on tax reform, hopefully we see that happen. We’re [the White House] certainly committed to that and think we’ll get there. But time and time again, Congress has made promises and failed to deliver.

(Photo of U.S. President Donald Trump sitting in the cab of a truck as he welcomes members of American Trucking Associations to the White House March 23, 2017 in Washington, DC. by Alex Wong.)

JACK is a friend, who points out the hidden flaws to the unobvious argument. A pragmatic fictitious charter, JACK is prone to satire and may explore the realm of fake news in any given article. A fun and comedic writer whose purpose is to both enlighten and lighten the otherwise stressful discussion of politics and current events.

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