Trucking Industry Praises Trump's ‘Big Beautiful Bill’
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Dozens of freight and trucking stakeholders praised the recently enacted comprehensive tax and budget measure referred to as the “.”
President Donald Trump signed the legislation July 4 during a festive ceremony at the White House, which coincided with Independence Day celebrations. Tucked in the law are myriad tax incentives specific to private sector leaders as well as investors. The law is a signature legislative achievement for Trump’s second term.
pointed to the new law’s potential benefits for a freight sector enthusiastic about an economic boost this year.
“The American Trucking Associations thanks Republicans in Congress and President Trump for moving this comprehensive tax reform package across the finish line. Today’s vote provides much-needed certainty for the trucking industry — the backbone of our economy — to grow and thrive,” ATA President said this month for the president’s signature.
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“By passing this bill, Congress averted the largest tax increase in our nation’s history. Neither the economy nor our supply chain would have survived such a travesty. This is our money, not the government’s, and truckers know better than anyone how to reinvest it to promote prosperity,” said Spear.
“Motor carriers, the overwhelming majority of which are small businesses that operate 10 trucks or fewer, will now have the ability to plan for the future, continue to provide good-paying jobs and upgrade equipment,” he added. “We commend congressional leaders for recognizing this fact and crafting this tax-relief package that supports the 8.5 million Americans who work throughout trucking.”
The U.S. Chamber of Commerce reflected on the long-term economic effect that will likely be linked to the law. Chamber CEO Suzanne P. Clark explained, “The enactment of the One, Big, Beautiful Bill Act is a win for economic growth, a win for workers and a win for communities across the country. Competitive, pro-growth tax policy is essential to strengthen the economy and raise wages for workers.”
“The Chamber has long championed the importance of a stable and globally competitive tax code,” she continued.
“This historic legislation ensures that [Trump’s] vision to push forward pro-growth policies and measures that rein in government spending becomes a reality to the benefit of American businesses and hardworking families for generations to come,” National Retail Federation CEO Matthew Shay said, emphasizing the law will revitalize the economy.
Specifically, the law permanently extended certain provisions of the 2017 Trump Tax Cuts and Jobs Act, such as individual income tax rates and alternative minimum tax exemptions. It also would facilitate access to educational programs like truck driver training schools. And it reverses several Biden-era climate change-centric programs as well as certain alternative-fuel initiatives. The law also increases funding for border security and immigration enforcement, military weapons systems and reforms elements of the country’s social safety net.
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The White House touted the law as the “largest tax cut in history for middle- and working-class Americans” claiming it offers: “No tax on tips. No tax on overtime. No tax on Social Security.”
At the signing ceremony, Trump punctuated his domestic legislative achievement.
“What we’ve done is put everything into one bill. … It’s the biggest bill of its type in history. We’ve never had anything like that before. Nothing like that they thought would be possible to get passed.”
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House transportation panel Chairman Sam Graves (R-Mo.) highlighted provisions in the law specific to freight and passenger corridors.
“The final bill includes provisions from the Transportation and Infrastructure Committee to provide historic investments in the United States Coast Guard to strengthen our national and border security as well as funding to begin modernizing the nation’s outdated air traffic control system and enhance the hiring of air traffic controllers,” he said.
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