Government, Business, Logistics

Gas, Grocery Price Hikes Spur States to Pursue Tax Relief

Inflation SDI Productions/Getty Images

Rapidly climbing inflation in the U.S. is accelerating calls from governors and state leaders to provide immediate tax relief to cash-strapped residents facing higher prices on everyday products such as gas, milk and electricity.

February 18, 2022
Government, Business

Raimondo Says CEOs More Reasonable on Taxes Than Lobbyists

Commerce Secretary Gina Raimondo Raimondo says Commerce is focusing on diversifying supply chains and revitalizing manufacturing, with an emphasis on investing in local microchip output. (Pete Marovich/Sipa via Bloomberg News)

Commerce Secretary Gina Raimondo made a fresh pitch for President Joe Biden’s plan to raise corporate taxes, saying lower rates have failed to have much impact and that the chief executive officers she speaks to privately are “much more reasonable” on taxes than the trade groups who are aggressively lobbying against increases.

September 28, 2021
Government, Business

JPMorgan Chase: Tax Refunds Often Reset Consumers’ Finances

Taxes Daniel Acker/Bloomberg News

Refunds have averaged $3,602, and amount to the biggest incoming cash flow day of the year for 29% of recipients, according to the institute’s study of bank and credit card customer data from 2015-17, before the 2017 Republican tax law took effect.

Jeff Kearns | Bloomberg News
March 5, 2019
Government, Business, Logistics

UPS Says New Tax Law Creates ‘Whack-a-Mole’ Game

Getty Images

U.S. multinationals face a “tricky situation” in trying to plot a tax strategy around the new base erosion and anti-abuse tax (BEAT) in the 2017 U.S. tax law, a UPS official said.

Isabel Gottlieb | Bloomberg News
June 14, 2018
Government, Business, Perspective

Opinion: Trucking Industry Supports Repeal of Federal Excise Tax

The American Truck Dealers’ top legislative priority is to repeal the federal excise tax, and truck dealers and automotive trade association executives will converge on Capitol Hill this month to support this important effort.

Jodie Teuton | Chairwoman, American Truck Dealers
June 11, 2018
Government, Business

Ports, Railroads Tout Victories on the Tax Law to Their Industries

Port of Long Beach Bob Riha/Reuters

Like the trucking industry, the port authorities and Class I railroads believe the Tax Cuts and Jobs Act will benefit their modes of transportation, according to associations that represent them.

Ari Ashe | Staff Reporter
January 4, 2018
Government, Business

New Tax Law Will Compel Trucking Companies to Analyze How to Adjust Their Business Models

President Trump signs the tax reform bill Mike Theiler/Bloomberg News

From large carriers to single-truck fleets, many in the industry are analyzing how the federal Tax Cuts and Jobs Act will impact their income and are formulating strategies to adapt to the new rules — including the possibility of restructuring their companies, accountants said.

Ari Ashe | Staff Reporter
January 4, 2018
Government, Business

Private Financing Tool Rejected in House Tax Bill

Kevin Brady Andrew Harrer/Bloomberg News

Tax breaks designed to help the private sector finance infrastructure projects were not included in a Republican tax overhaul bill President Donald Trump would consider by the end of the year.

Eugene Mulero | Senior Reporter
November 9, 2017
Government, Business

Trump Calls 20% Corporate Tax Rate in Plan a ‘Perfect Number’

Evan Vucci/AP

President Donald Trump and Republican leaders launched an urgent effort to get a major legislative win this year, announcing a long-awaited tax plan that will immediately set off a fight over how much top earners should pay.

September 27, 2017
Government, Business

Trump To Address Manufacturer Association on Sept. 29

Trump at the DOT Michael Reynolds/Pool via Bloomberg News

President Donald Trump was due to address the National Association of Manufacturers on Sept. 29, and discuss tax reform in a bid to boost economic growth.

Eleanor Lamb | Staff Reporter
September 26, 2017