On Wednesday evening, President Donald Trump made an appearance in a bucolic Pennsylvania town to pitch his tax reform efforts to truckers, promising that to put America first, means putting truckers first.
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Trump first unveiled his blueprint for a tax overhaul in September, promising cuts primarily for middle-class Americans and proposing a decrease in the corporate tax rate that would reduce it from about 35% to 20%. That corporate tax reduction, Trump has said, would make companies more competitive globally, and thereby funnel money back to the employees.
“If the plan comes to fruition like he says it is, I’m going to be making $4,000 per year more on average,” truck driver Matthew Garnett told FOX Business’ Liz MacDonald. “That’s way more than I’d ever see back in a tax return.”
Though Democrats have lambasted the proposal as cuts mainly for the wealthy, many of the specificities -- like how the government would grapple with funding a proposed $6 trillion in cuts -- Trump left to Congress to fill in.
Already, infighting among the GOP has emerged over a proposal to eliminate the deduction for state and local taxes. Republicans from states affected (New York, New Jersey and California) have promised to fight it.
Overall, Garnett said he approved of the plan so far. If his boss -- a former truck driver himself -- received more money thanks to tax cuts, Garnett said he’d likely invest it back into the employees.
“These jobs, they need to be out there. We need more of them available,” he said on “Risk & Reward.”. “And where they come from, you put money in the hands of entrepreneurs, people who are willing to go out there and take the risk for the reward. But if you put the stranglehold on them in the form of taxes, they’re not going to take that risk.”