Leesburg's Tom To Meet With President In Indy
September 27, 2017 at 6:17 p.m.
By Dan [email protected]
Trump will speak at the Indiana State Fairgrounds at a closed event and is expected to unveil details of proposed changes affecting the individual, small business and corporate tax rates among other initiatives.
With a failure this week to repeal and replace former President Barack Obama’s health care legislation, Trump is now expected to make the tax overhaul plan a top legislative item this fall.
Trump is expected to highlight numerous initiatives under his plan by spotlighting examples of how it could benefit Hoosiers, including Tom, who is chairman of Tom Farms, which has operations in seven northern Indiana counties and Argentina. His business is considered one of the biggest farms in the state.
Tom will be joined by John Gannon, an Indianapolis owner of a fence and deck construction company, and Aaron Williams, who works in information technology and is worried about the impact corporate taxes have on his employer, according to the White House.
Tom is a seventh-generation family farmer who is worried about the impact the federal estate tax could have on his family heritage, according a senior White House advisor in a briefing held Tuesday for media covering Trump’s visit.
Specifically, Trump is expected to discuss rolling back the estate tax – often referred to as the death tax – and will point to Tom as “a perfect example of the kind of American that would benefit” from the change in policy.
The estate tax is required in the transfer of the estate owned by a deceased person.
But some families face paying upward of 40 percent tax in the value of the property, leading some families to sell off some property or liquidate, Tom said.
“To me, it goes against the very fiber of the American dream,” Tom said this morning.
“When you know that a lot of our employment in this country comes from small businesses, that’s not a good way to operate our county.”
Tom said he’d like to see the tax eliminated rather than scaled back. He said he thinks Trump supports elimination.
“It needs to go. We could certainly pick up a lot more revenue if we keep that money working instead of going into that tax,” he said.
Tom is expected to be among a group who will meet with Trump prior to the 3 p.m. event.
Trump is also expected to tout Vice President Mike Pence’s economic impact on Indiana when he served as governor of the state and his effort to cut taxes.
Pence signed into law more than $3.5 billion in tax relief that cut the jobless rate in half and set records for tens of thousands of new manufacturing jobs, according to the White House.
Trump also is expected to talk about the importance of encouraging companies to keep their money in the United States.
Trump’s proposed cuts and reforms, combined with reductions in regulations, “will deliver massive job creation and economic growth for the country,” a senior White House advisor said.
Among those expected to attend are U.S. Sen. Joe Donnelly and U.S. Rep. Jackie Walorski.
Walorski is a member of the tax-writing House Ways and Means Committee and supports the tax overhaul.
“Indiana is a model for the rest of the nation of what can be accomplished through pro-growth tax reform,” Walorski said in a prepared statement.
“The fact that President Trump chose our great state for this important announcement shows just how committed he is to seizing this once-in-a-generation opportunity.”
Indiana Gov. Eric Holcomb is not expected to attend because of a prior commitment in Chicago, according to the Associated Press.
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Trump will speak at the Indiana State Fairgrounds at a closed event and is expected to unveil details of proposed changes affecting the individual, small business and corporate tax rates among other initiatives.
With a failure this week to repeal and replace former President Barack Obama’s health care legislation, Trump is now expected to make the tax overhaul plan a top legislative item this fall.
Trump is expected to highlight numerous initiatives under his plan by spotlighting examples of how it could benefit Hoosiers, including Tom, who is chairman of Tom Farms, which has operations in seven northern Indiana counties and Argentina. His business is considered one of the biggest farms in the state.
Tom will be joined by John Gannon, an Indianapolis owner of a fence and deck construction company, and Aaron Williams, who works in information technology and is worried about the impact corporate taxes have on his employer, according to the White House.
Tom is a seventh-generation family farmer who is worried about the impact the federal estate tax could have on his family heritage, according a senior White House advisor in a briefing held Tuesday for media covering Trump’s visit.
Specifically, Trump is expected to discuss rolling back the estate tax – often referred to as the death tax – and will point to Tom as “a perfect example of the kind of American that would benefit” from the change in policy.
The estate tax is required in the transfer of the estate owned by a deceased person.
But some families face paying upward of 40 percent tax in the value of the property, leading some families to sell off some property or liquidate, Tom said.
“To me, it goes against the very fiber of the American dream,” Tom said this morning.
“When you know that a lot of our employment in this country comes from small businesses, that’s not a good way to operate our county.”
Tom said he’d like to see the tax eliminated rather than scaled back. He said he thinks Trump supports elimination.
“It needs to go. We could certainly pick up a lot more revenue if we keep that money working instead of going into that tax,” he said.
Tom is expected to be among a group who will meet with Trump prior to the 3 p.m. event.
Trump is also expected to tout Vice President Mike Pence’s economic impact on Indiana when he served as governor of the state and his effort to cut taxes.
Pence signed into law more than $3.5 billion in tax relief that cut the jobless rate in half and set records for tens of thousands of new manufacturing jobs, according to the White House.
Trump also is expected to talk about the importance of encouraging companies to keep their money in the United States.
Trump’s proposed cuts and reforms, combined with reductions in regulations, “will deliver massive job creation and economic growth for the country,” a senior White House advisor said.
Among those expected to attend are U.S. Sen. Joe Donnelly and U.S. Rep. Jackie Walorski.
Walorski is a member of the tax-writing House Ways and Means Committee and supports the tax overhaul.
“Indiana is a model for the rest of the nation of what can be accomplished through pro-growth tax reform,” Walorski said in a prepared statement.
“The fact that President Trump chose our great state for this important announcement shows just how committed he is to seizing this once-in-a-generation opportunity.”
Indiana Gov. Eric Holcomb is not expected to attend because of a prior commitment in Chicago, according to the Associated Press.
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