Watch Now


Proposed Trump tax cuts expected to be a boon for freight

What Donald Trump’s election win could mean for the industry

Loren Smith, president of the strategic advisory firm Skyline Policy Risk Group, said Trump’s corporate tax cuts could have a positive impact on the trucking industry. (Photo: Jim Allen/FreightWaves)

With at least three Senate seats flipped from Democrat to Republican — giving Republicans a two-seat majority — Trump will attempt to exert influence on Congress as lawmakers grapple with major tax reforms in 2025.

Trump supports lowering the corporate tax rate from its current 21% — which was lowered from 35% in 2017 during his first administration through the Tax Cuts and Jobs Act — to as low as 15% for companies that make their products in the U.S.

Loren Smith, president of the strategic advisory firm Skyline Policy Risk Group, told FreightWaves that these tax cuts could have a positive impact on the trucking industry.

“That would be helpful for trucking in particular, because the more tax policy favors U.S. domestic products, the more immediate downstream effect on freight haulage from manufacturing plants like automobiles and household goods,” Smith said.


Trump’s platform also calls for a 60% tariff on all U.S. imports from China and a baseline tariff of 10% to 20% on all U.S. imports. Smith said Trump’s tariffs will be particularly focused on domestic manufacturing — a net benefit for freight.

“Trump will be more open to tariff exceptions that the freight industry is concerned about, and freight interests will have a better seat at the table when it comes to getting those exceptions in place,” Smith said.

Todd Spencer, president of the Owner-Operator Independent Drivers Association, released an emailed statement congratulating Trump and Vice President-elect JD Vance.

“OOIDA and the 150,000 small business truckers we represent congratulate Donald Trump and J.D. Vance on their resounding victory,” Spencer said. “We look forward to working with the Trump Administration and congressional allies to advance a pro-trucker agenda, which includes expanding truck parking, stopping unworkable environmental mandates, and preventing a dangerous speed limiter mandate.”


He told FreightWaves that Vance is also a co-sponsor of OOIDA’s top two legislative priorities: the Truck Parking Safety Improvement Act and the DRIVE Act.

Truckers are obligated to comply with hours-of-service regulations from the Federal Motor Carrier Safety Administration. Spencer said it is estimated that truckers spend approximately one hour per day looking for safe parking, which cuts down on time driving to their destinations.

The Truck Parking Safety Improvement Act would allocate funds to create thousands of safe parking spots for trucks and make necessary improvements to existing truck parking areas.

“Most folks probably don’t realize that 70% of American freight is transported by truck, yet incredibly there is only 1 parking spot for every 11 trucks on the road,” Spencer said. “When truck drivers don’t have a designated place to park, they end up parking on the side of the road, near exit ramps, or elsewhere. This isn’t safe for the driver and it’s not safe for others on the road.”

The DRIVE Act would prohibit FMCSA from implementing any regulations mandating speed-limiting devices for large commercial motor vehicles engaged in interstate commerce.

“Studies and research have already proven what we were all taught long ago in driver’s ed classes – that traffic is safest when vehicles all travel at the same relative speed,” Spencer said. “Limiting trucks to speeds below the flow of traffic increases interactions between vehicles, which can lead to more crashes.”

Disclosure: JD Vance is an investor in FreightWaves SONAR through the Rise of the Rest fund.


2 Comments

  1. Mikey

    Sections 301 and 321 tariffs are hurting many small local businesses and even small freight carrier companies, creating more difficulties for them to compete and survive. I would highly suggest to please review them.

Leave a Reply

Your email address will not be published.

Caleb Revill

Caleb Revill is a journalist, writer and lifelong learner working as a Junior Writer for Firecrown. When he isn't tackling breaking news, Caleb is on the lookout for fascinating feature stories. Every person has a story to tell, and Caleb wants to help share them! He can be contacted by email anytime at Caleb.Revill@firecrown.com.

John Gallagher

Based in Washington, D.C., John specializes in regulation and legislation affecting all sectors of freight transportation. He has covered rail, trucking and maritime issues since 1993 for a variety of publications based in the U.S. and the U.K. John began business reporting in 1993 at Broadcasting & Cable Magazine. He graduated from Florida State University majoring in English and business.