ATA Eyes Bush Tax-Cut Bill

President Bush last week sent his $1.6 trillion tax-cut plan to Capitol Hill, where trucking is expected to voice its strong support for repeal of the estate tax and acceleration of increased meals tax deductions for truck drivers.

Bush’s proposal focuses on reducing taxes for individuals. Its main features are lower tax rates, repeal of the estate tax and reducing the unequal tax treatment for married couples.

Although the president said he will resist calls for additional business tax breaks as part of the 10-year tax-cut plan, trucking executives meeting this week in Arlington, Va., will consider endorsing a proposal to exempt safety equipment and cleaner-burning engines from excise taxes.

Other business groups are also expected to push for faster tax write-offs for computers and a reduction in corporate income-tax rates.

For the full story, see the Feb. 12 print edition of Transport Topics. Subscribe today.