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Marshall businesses encouraged by Trump tax plan

MARSHALL — When President Donald Trump released his plan for tax reform last week, there weren’t many details included. Some of the points on the plan, like a reduced business tax rate, might be positive for businesses and the economy — but some local employers said it’s also too soon to tell exactly how they could be affected.

Bullet points on the Trump tax plan, released last Wednesday, call for a new, lower business tax rate of 15 percent. It could be a good thing, representatives of some Marshall area businesses said.

From a business owner’s standpoint, having lower taxes would be a positive thing, said Ruth Ann Holthouse, controller Turkey Valley Farms, which has a turkey processing plant in Marshall. “It allows you to invest more into the company,” she said.

Tim Swenson, of Action Manufacturing in Marshall, said lowering taxes would allow businesses like his to expand.

“It’s jobs,” he said. “If you can reduce corporate taxes, that money can go back into jobs, into materials,” and other investments, he said. Swenson said having lower costs could also help businesses be more competitive on an international level.

But at the same time, he said, there’s not a lot that’s been spelled out about the tax plan, or how it would really affect American businesses. Other area business representatives also said it’s too soon to tell how things could change.

Holthouse said it’s not yet certain how or if the Trump tax plan would stimulate the economy. Economic growth would be a positive thing for area businesses.

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