SUMMER 2017

48 THE DISTRIBUTOR’S

48 THE DISTRIBUTOR’S LINK Jim Truesdell James Truesdell is President of Brauer Supply Company, a distributor of specialty fasteners, insulation, air filtration, and air conditioning with headquarters in St. Louis. Mr. Truesdell is adjunct professor at Saint Louis University and Webster University. An attorney and frequently published writer, he is the author of “Total Quality Management: Reports From the Front Lines”. TAX REFORM HOPES STILL RUNNING STRONG Whatever one might think of President Trump’s personal administrative style, or his stand on social policy, immigration, foreign relations, or a host of other issues, it is clear that business markets have reacted favorably because of two issues. One is an easing up of government regulations. The other is the promise of comprehensive tax reform which holds out the expectation of increased funds for capital investment and growth, and increased incentive for business owners and entrepreneurs to keep rolling the dice in hopes of greater returns. As roadblocks developed on many of the Administration’s proposals such as healthcare, educational reform, and other areas, it was success in paring back business regulation and the belief that tax reform is still front and center that has continued to propel the stock market to new highs and keep business activity up and jobs comparatively plentiful. Indeed, wholesaler-distributors and other small business players continue to push for changes to the tax system that will hopefully not only benefit business, but will stimulate growth that will help deal with the growing budget deficit via overall larger revenues. The CONTRIBUTOR ARTICLE Administration has put such reform in the center of its strategy as they see it as “trumping” all else in winning the kind of support from Americans and the business community they will need as the 2018 congressional election year approaches. It seems that getting tax reform done by the end of 2017 is high priority. So what are the plans? What do industry trade associations want and how does this line up with what the President and the majority in Congress are proposing? Almost all seem to be calling for a simplified rate structure that would provide clarity to business planners and individual taxpayers alike. Small businesses, in particular, are looking for plans that would leave them in a competitive position in relation to the big corporations. But businesses both large and small seem united on some basic principles. Speaking for small business, Juanita Duggan. who is president of the National Federation of Independent Business (NFIB) said “The President’s proposal for rate parity would make American businesses immediately more competitive. A low, single business tax would supercharge the economy, and create an even playing field for small businesses and large corporations.” CONTINUED ON PAGE 120