Truckers Applaud New Tax Reform But Say Overtime Pay Still Left Behind

0
420


WASHINGTON, D.C. — The recent passage of a major tax reform bill by the U.S. House of Representatives is bringing financial stability for many truckers, but industry leaders say it still leaves critical overtime pay issues unresolved.

On July 3, lawmakers approved the One Big Beautiful Bill, which extends and modifies key parts of the 2017 Tax Cuts and Jobs Act. Among its headline measures is the elimination of taxes on overtime pay for many blue-collar workers and the extension of estate and individual income tax cuts.

While some trucking organizations welcomed the move, others say it falls short for drivers who are currently excluded from overtime protections under the outdated Fair Labor Standards Act of 1938.

“Eliminating taxes on overtime pay for blue collar workers is a well-intentioned move. Unfortunately, truckers won’t benefit from this key provision… due to their exclusion from overtime protections,” said Todd Spencer, President of the Owner-Operator Independent Drivers Association (OOIDA), in a statement.

Meanwhile, American Trucking Associations (ATA) President and CEO Chris Spear praised the bill, calling it “much-needed certainty for the trucking industry — the backbone of our economy — to grow and thrive.”

“By passing this bill, Congress averted the largest tax increase in our nation’s history. Neither the economy nor our supply chain would have survived such a travesty,” Spear said, adding that most motor carriers, which are small businesses operating ten trucks or fewer, can now plan for the future and invest in better equipment and good-paying jobs.

However, OOIDA continues to urge lawmakers to pass the GOT Truckers Act, which would finally guarantee truckers overtime pay protections and make them eligible for the same tax relief on overtime wages as other workers.

According to ATA, the industry sees the new package as a vital step forward — but drivers’ advocates stress that overtime reform remains a missing piece that Congress needs to fix.

 


Buscar
Patrocinados
Categorías
Read More
Trucking News
Watch a local farmer give an oversized load driver a little help up a hill
An Ohio farmer with a tractor gives a trucker hauling an oversized load a little helping hand up...
By MEGA MISTAKES 2022-07-09 15:05:47 0 11K
Trucking News
Truckers quietly end Oakland Port protest without resolution
The Port of Oakland has resumed operations after a multi-day blockade by truckers that ended...
By MEGA MISTAKES 2022-07-26 23:42:09 0 10K
Trucking News
Michigan troopers announce commercial vehicle crackdown on I-75
Starting this weekend, Michigan State Police (MSP) motor carrier officers and troopers are taking...
By MEGA MISTAKES 2022-08-20 16:27:17 0 12K
Trucking News
I-71 expected to remain closed for full 24 hours by the time HAZMAT crash cleared
Interstate 71 in Kentucky is expected to remain closed through most of Thursday evening for the...
By MEGA MISTAKES 2022-04-28 22:11:35 0 12K
Trucking News
“Heavy fire conditions” consume multiple trailers at LV warehouse
“Heavy fire conditions” destroy multiple tractor trailers at warehouse in Las Vegas...
By MEGA MISTAKES 2024-04-09 12:00:20 0 15K
Truck Drivers Life | Social Network for Truck Drivers https://www.truckdrivers.life