The votes have been tallied, a winner declared, and the wheels of a peaceful transition of power have already begun to turn. What can we expect during President Trump’s second term?
During his campaign, president-elect Trump outlined several goals for his administration that could impact small businesses, including those in the vending, micro markets, coffee service, and unattended retail sectors.
- Lower the corporate tax rate from 21% to 15%.
- Extend the 2017 Tax Cuts and Jobs Act (TCJA) provisions, including 100% bonus depreciation for machinery and equipment or research and development.
- Extending the TCJA provisions also could include the Qualified Business Income Deduction for pass-through entities like LLCs. Because many convenience services businesses are pass-through entities, this allows those owners to deduct up to 20% of their business income.
- Tariffs on foreign goods, which could include coffee. The United States imported $8.2 billion worth of coffee in 2023.
The convenience services industry may also receive support from the Trump administration on other fronts. These include:
- Repealing the Corporate Transparency Act, which increased the regulatory burden on convenience services operators by requiring small businesses to provide information to the Treasury Department.
- Easing the estate tax burden, which would allow family-owned businesses to pass assets without increasing tax obligations.
NAMA advocates for the convenience services industry on government affairs. During its Fly-In in July, NAMA educated attendees on current and pending legislation changes.
Share your opinion
Endeavor Business Media, the parent company of Automatic Merchandiser and VendingMarketWatch.com, is seeking post-election feedback across our our 90+ brands.
After the vote, a vibe check
What are your top business priorities now that we know the outcome of the presidential election? Are you confident in the Trump administration’s future approach to key economic issues? Let us know via this quick six-question poll of B2B leaders! We look forward to sharing the results with you soon.
Food for thought
Several other publications owned by Endeavor Business Media have reported on how the presidential election results could impact their markets.
- What Will Trump 2.0 Mean for Food & Beverage? | Food Processing
- Trump’s Tariff Proposals Could Be Very Costly | Material Handling & Logistics
- Here's what another Trump presidency means for trucking | FleetOwner
- 3 ways a Republican sweep could change the trucking industry | FleetOwner
- Manufacturing Policy Recommendations for President-Elect Trump | IndustryWeek
- Plastics machinery makers express optimism following election | Plastics Machinery & Manufacturing
- What to Watch for in Telecom with Trump Set to Take Office | ISE (ICT Solutions & Education)
- What will Trump’s second term mean for dentistry? | Dentistry IQ
- General Election 2024 results: Transit ballot measures fare well at the polls | Mass Transit
- Daimler Truck CEO: We're ready for any Trump tariffs | FleetOwner
- Biden moves to limit ANWR oil drilling hours after Trump’s election | Oil & Gas Journal
Linda Becker | Editor-in-Chief
Linda Becker is editor-in-chief of Automatic Merchandiser and VendingMarketWatch.com. She has more than 20 years of experience in B2B publishing, writing, editing and producing content for magazines, websites, webinars, podcasts, newsletters and eBooks, primarily for manufacturing and process engineering audiences. Since joining Automatic Merchandiser and VendingMarketWatch.com, Linda has developed a new appreciation for the convenience services industry and the essential role it plays. She is dedicated to serving readers by covering the latest news in the vending, office coffee service and micro market industry. She can be reached at 262-203-9924 or [email protected].