Ahead of President Trump’s tax reform rally in Pennsylvania with truckers, ATR president Grover Norquist praised the GOP plan as a huge benefit to small businesses and pass-through companies. Such businesses will see a 42% tax rate cut.
Norquist discussed the pass-through rate with Fox Business Network host David Asman, the host of After the Bell:
Norquist: “The 30 million Americans who have small businesses – self-employment income, pass-through income — they will all benefit because their business tax rate goes down as well.”
David Asman, host: “That’s who the President is appealing to with the truckers today. Because the truckers mostly are these pass-through kind of companies. Working class Americans that have a little business of their own which is a trucking business and that represents as you say 30 million Americans. That’s a strong lobbying force.”
Norquist: Many of them are married, they’ve got spouses, they have children, they have brothers and sisters and employees. That is a huge number. Half of Americans work for pass-throughs, half for corporations. And that group has been ignored going back the last thirty years. We haven’t focused on entrepreneurs and bringing those tax rates down.”