Truckers voted for Trump in droves. Now they say his trade war is 'killing' their ability to make a living.
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businessinsider.com
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Trump's tax reworking in 2017 led to many truck drivers having to pay hundreds in taxes this year, thanks to a change in per-diem laws. Dennis Bridges, an accountant who specializes in doing taxes for truckers, told Mother Jones in April that 75% of his clients saw an unusually large tax payment, and about 20% had to fork over more than $5,000.
That might've been bearable in 2018, when trucking capacity was tight, the industry was raking in cash, and truckers saw their pay jump. But now the trucking "bloodbath," as Coffman and other truckers describe current transportation conditions, has meant low rates and low pay for truckers. Trucking has been in a recession since late 2018.
Read more: 2,500 truck drivers have lost their jobs in 2019 as the transportation 'bloodbath' rolls on. Here's the full list of bankrupt trucking companies.
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"I have witnessed many ups and downs in the industry but nothing like this," Coffman told Business Insider. "Many, many owner-operators and drivers have either lost equipment or lost a job in the last year."
The Cass Freight Index says year-over-year trucking volumes have slipped for eight consecutive months. In June, factory-activity growth was its slowest since October 2016, according to the Institute for Supply Management. That means manufacturers didn't receive as many orders and there were fewer things to move.
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"The truth about the rates being so low is Trump's trade policies," JL Sims, a truck driver, told Business Insider. "Manufacturers are scared. Last month's manufacturing jobs numbers finally began to reflect the reduced production. Everyone looks at the unemployment rate and thinks, mistakenly, that the economy is in great shape. Manufacturing tells the real story."
Read more: Truckers can't pay off their fuel cards, and it's a 'sure sign' more trucking bankruptcies are coming
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Nearly 90% are registered voters, according to the Owner-Operator Independent Drivers Association, compared to about 78% of the general population. More than half have contacted an elected official.
Trump has previously catered to truckers, pledging to slash taxes to help their businesses. "America first means putting American truckers first," he said at a 2017 trucker event.
But truckers, including conservative ones, don't believe Trump has lived up to his promise.
"You can not bully your way to a good economy," Coffman said. |
