News

FOR IMMEDIATE RELEASE
FMCSA 2-03
Wednesday, January 24, 2003
Contact: Suzy Bohnert
Telephone: 202-493-0189

Statement by FMCSA Deputy Administrator Sandberg on President Bush's Visit to St. Louis Trucking Company

In an effort to highlight the steps the Administration is taking to strengthen small business, President George W. Bush recently chose a St. Louis trucking company as a venue to deliver his remarks.

"It's important for our fellow Americans to understand that the strength of our country, the strength of our economy really depends upon the strength of the small business community all across America," said President Bush.

In response to the President's visit, Federal Motor Carrier Safety Deputy Administrator Annette M. Sandberg said, "I am proud that President Bush selected a trucking company as the backdrop to speak about strengthening small business. His visit to J.S. Logistics underscores the importance of the trucking and bus industries to America's economy. More than 10 million people work for these businesses. Many are small businesses that would see increased job growth and greater demand for the transportation of products as a direct result of the President's jobs and growth plan. Increased business expense tax deduction limits encourage companies to invest in new safety technologies and related systems."

On Jan. 22, the President toured J. S. Logistics, a trucking, warehousing, and express delivery business. According to the St. Louis Post-Dispatch, J. S. Logistics has grown from a two-person courier operation run from a garage to a $25 million business. Much of that growth has been due to the integration of technology into the business, which the company's owners estimate costs close to $100,000 annually.

The primary benefit that the President's plan would provide small trucking and bus company owners is an increase in the amount that can be deducted for investment in new equipment, such as machinery and computers. The President's plan would raise the maximum deduction from $25,000 to $75,000, beginning this year.

Additional components of the plan include:

• Accelerating tax deductions on small businesses
• Abolishing the double tax on dividends
• Permanently eliminating the death tax
• Streamlining small business regulations

To link to a photo of the President's visit to J.S. Logistics, visit http://www.whitehouse.gov/news/releases/2003/01/images/20030122-4_stlouis3-012203-pm-515h.html

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