How Good, and Bad, Policies Affect Transportation in America, According to New Podcast Featuring John Smith, Chairman, CRST, and David Bauer, Vice President, American Trucking Associations
Leaders Offer Insights into Today’s Critical Transportation Issues in Latest ‘Voice of Family Business’ Podcast, with Host Pat Soldano of Family Enterprise USA
The good, bad, and ugly government policies affecting our country’s family-owned transportation companies are discussed by transportation industry leaders John Smith, Chairman, CRST, The Transportation Solution, Inc., and David E. Bauer, Esq., Vice President, State & Tax Policy, the American Trucking Associations.
The insights come in a newly released podcast from the “The Voice of Family Business on Capitol Hill,” by Family Enterprise USA, with podcast host Pat Soldano.
The policies affecting the many family-owned trucking companies in the U.S. can be particularly difficult to navigate, according to CRST Chairman Smith. CRST, founded in 1955 by Herald and Miriam Smith, started as Cedar Rapids Steel Transport out of a refurbished chicken coop bought for $125. Today, CRST has annual revenue of $2 billion, with lines of business in trucking, logistics, property development, insurance, security, and family office. It is one of the nation’s largest privately held transportation companies.
“Because of the changing tax laws, both federal and state, we’re always thinking about how that affects our business and drivers,” said Smith. “We’re always planning for it, and we always need to be part of the discussion.”
During the podcast, other critical issues, such as the electrification of long-haul trucking, hydrogen EV trucks, technology, and the effects of 1980’s deregulation, were part of the discussion.
Also in the podcast, David Bauer, key tax policy influencer for the American Trucking Associations, for all 50 states and federal policy, emphasized the need for “consistent engagement” with policy makers.
“Only when we are consistent at the state and federal level do we have a chance to be heard,” Bauer says in the video. “The average trucking company in the U.S. has ten trucks and we advocate for all size companies, with the biggest issue being tort reform, since truckers are easy targets for trial lawyers.”
In the podcast, part of a series on issues facing family businesses, Soldano asks the two transportation executives questions ranging from policies that hurt, help, or have changed the industry to questions on the challenges of educating Congress on trucker concerns.
“It’s clear speaking with John and David that one forum we have to educate our representatives is the new Congressional Family Business Caucus,” says Soldano. “Family businesses, like the many thousands of small trucking firms across the country, need a steady voice to get the message out that family businesses have unique problems that corporations do not face. We hope through these podcasts we can help get the message out that we need policies that help the largest employer in the country, family businesses, not hurt them.”
Soldano is President of Family Enterprise USA and its sister organization, Policy and Taxation Group, both based in Washington, DC. Both are advocates for America’s family businesses.
This latest episode is now airing on Spotify, and other major podcast platforms, such as Apple iTunes and TuneIn. The podcast is sponsored by Preston Root, a Family Enterprise USA Member, Board Member, and longtime supporter.
Subscribers will receive alerts as future shows are posted. To find it on Spotify go to: https://open.spotify.com/show/73pcpIL2NfPi11WG0FZdyX?si=xIww0QSoS_OHMdOeR9qXhw
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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