President Trump will make a major push for tax reform in Pennsylvania Wednesday night, focusing on how his new tax structure will benefit truckers and owners of trucking companies. He will give his remarks from an Air National Guard hanger to a crowd of 1000 local workers.
"Nothing gets done in America without the hardworking men and women of the trucking industry. America depends on you for the fuel that powers our cars, the produce that nourishes our communities, and the beautiful steel that sends up our tallest skyscrapers," excerpts from Trump's speech say. "When your trucks are moving, America is growing. That is why my administration is taking historic steps to remove the barriers that slow you down. America first means putting American truckers first."
"We will eliminate the penalty on returning future earnings back to the United States, and we will impose a one-time low tax on money currently parked overseas so it can be brought back home to America where it belongs. My Council of Economic Advisors estimates that this change alone would likely give the typical American household a $4,000 pay raise," another excerpt reveals.
Representatives from the Pennsylvania Manufacturing Association, the National Federation of Independent Business’s Pennsylvania chapter and the American Trucking Associations will also be in attendance.
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On Wednesday morning, House Speaker Paul Ryan held a press conference to back the President's plan and put out a five point primer about how reform will make Americans' taxes simpler.
"It's no secret. Filing your taxes is complicated. That's why the vast majority of Americans have to rely on accountants or software to help them get the job done every April—services that can be both costly and time-consuming. It's 2017, and people are walking around with computers in our pockets. Surely we can make taxes a little bit easier, as well," Ryan's office released.
The administration wants to get reform done by the end of the year. President Trump's framework, which can be read in full here, has been sent to Capitol Hill to become legislation.
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