Quincy small business owner looking forward to corporate tax cut

TNT Golf car & Equipment (KHQA).

A new corporate tax rate is all but official and business owners, large and small, are looking forward to the savings.

Republicans in both the House and Senate have approved the new tax bill and it is now just awaiting official signature from President Trump.

The new plan will cut the corporate tax rate from 35% to 21%. A fourteen point reduction.

Terry Traeder with TNT Golf Cart & Equipment is one of them.

"I can manage my money better than Uncle Sam can for me," said Traeder.

He says he's expecting savings in the tens-of-thousands.

"Probably $25,000 a year, so it's a substantial deal. You're talking about, we're a heavy inventory type business so what that means is, maybe we can add more inventory." said Traeder.

Traeder says the savings will allow him to stay competitive with wages and expand his company at a quicker pace.

"We can budget different, you can make different plans if you're going to add trucks or put another man on the road to do service, all those kinds of things can go into play now," said Traeder.

Not everyone thinks cutting the corporate tax rate so significantly is the right thing to do.

U.S. Senator Dick Durbin of Illinois says this is not the way to help businesses succeed.

"What we're looking for is a tax change that promotes economic growth, this bill that just passed through congress, is not that bill," said Senator Durbin.

For Traeder, he says a low-margin company like his needs to save wherever they can.

"If you're talking about having to pay the government 35%,'s awful. It really is hard when you have with our business you have lower margin than maybe other businesses would have, it's more competitive so for us to get a low margin and then give 35% to the gov. it's very difficult." said Traeder.

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