Trucking Interests Lag In U.S. Tax Cut Jockeying

It’s tax-cutting season on Capitol Hill, and so far, trucking interests are getting the short end of the stick as Congress debates how much of a break citizens and companies should receive.

The Senate Finance Committee is expected to review on July 19 a proposal from its Republican chairman, William Roth of Delaware, that would cut taxes by $792 billion over 10 years.

Across the rotunda, the House Ways and Means Committee last week approved an $864 billion tax cut bill. The measure could go before the full House for a vote as early as this week.

Democrats have suggested more modest cuts, but congressional leaders hope to move a tax cut bill through both houses and on to President Clinton before lawmakers adjourn for the summer in early August.

Despite intensive lobbying, trucking interests were unsuccessful in persuading the House Ways and Means Committee to include legislation speeding the restoration of the 80% tax deduction for meals while truckers are on the road.

Trucking was fighting last week to persuade Republicans on the Senate Finance Committee to put the measure in their bill. The measure calls for restoration of the deduction allowance at a faster pace than the current, 10-year phase in (Lawmaker Pushes Meal Deduction, 6-21, p. 2).

At the same time, American Trucking Associations was fending off plans by Sen. John Chafee (R-R.I.) to attach a proposed national weight-distance tax to the Senate bill.

For the full story, see the July 19 print edition of Transport Topics. Subscribe today.