“I want all of America to be inspired by what’s happened in North Dakota and the North Dakota example. This state is a reminder of what can happen when we promote American jobs instead of obstructing American jobs — which has been happening, believe me.”
ON IMPACTS TO MID-SIZED BUSINESSES
“Tax reform will also benefit mid-sized businesses, like North Dakota Guaranty and Title Company in Mandan. You know that company, anybody? President Nick Hacker — where’s Nick Hacker? Hello, Nick. How are you, Nick? How’s business? All right? Getting better all the time. “He says that he spends a fortune on accountants to navigate our complicated tax system. We know the feeling; everybody here knows the feeling. Like millions of other American businesses, he would much rather spend that money on higher wages for his 140 employees.
ON IMPACTS TO ENERGY SECTOR
“The workers in the energy sector will benefit enormously as well. North Dakota State Senator Jessica Unruh — where’s Jessica? Where’s Jessica? Hello, Jessica. Congratulations. Doing a good job, right? That’s what I hear — who is also an environmental specialist says lower business taxes will be a catalyst for energy companies to hire countless of new American workers. So important.”
ON IMPACTS TO THE AGRICULTURAL INDUSTRY
“We’ll also protect small businesses and family farmers here in North Dakota and across the country by ending the death tax. Tremendous burden for the family farmer. Tremendous burden. ... But a tremendous burden for small businesses and businesses that aren’t necessarily liquid, but they’re great businesses — where you’re forced to sell and terrible things happen. “Here with us today is Julie Ellingson, a fourth-generation cattle rancher and a mother of five from Bismarck. Where is Julie? Hello, Julie. “Like many family ranchers, Julie worries about the death tax shutting down her family business and keeping her from passing it on to her children. It’s a devastating tax. Julie: We are not going to allow the death tax or the inheritance tax or the whatever-you-want-to-call-it to crush the American Dream. Not going to let it happen, so — fighting hard. Thank you, Julie.”
Central North Dakota residents and business owners were highlighted by President Donald Trump in his speech on tax reform at Mandan’s Andeavor Refinery on Sept. 6. These individuals gave their reactions to the president’s speech. Nick Hacker, President, North Dakota Guaranty and Title: “As a small business we have a significant portion of our employees that deserve and need tax reform on an individual basis and a reduction of tax burden, effectively. It really means more money in their paychecks, which makes a great deal of difference for our folks. Secondly, as a corporation the nightmare that we run through in the difference between book and tax accounting — the tax code has become so complicated that you have to have specialists in how to navigate the tax code in your annual tax filing.” Sen. Jessica Unruh, District-33: “We’ve already felt the impact here in North Dakota when it comes to the regulatory reform that the President’s Cabinet has been working on. We’ve seen the elimination of red tape as different industries have moved through the processes of getting federal approvals. … We need to simplify the code. We need to make it fair. And we need to make it predictable or we can’t expect businesses to invest their time and effort and money in the United States of America.” Julie Ellingson, Executive Vice President, North Dakota Stockman’s Association: “The North Dakota Stockman’s Association has had policy in our national organizations and many agricultural organizations to eliminate the estate tax, which is commonly referred to as the ‘death tax.’ What that does is it severely impairs the next generation carrying on family businesses, because of an incredible tax liability that they’re saddled with following the death of a loved one.”