Tax cut could help local businesses
CHRISTIANSBURG, Va. – The new federal tax bill will impact many local businesses but some of them say they're not sure what to expect.
Prestar Packaging makes custom-made boxes for almost everything you can think of and they say the idea of getting some relief on taxes is a good idea. The manufacturing company says now is a good time for the tax cuts.
The bill is supposed to help make corporations more competitive, hire more workers and raise wages. Prestar Packaging says this will help them to buy more machinery and increase pay for employees.
"The tax cut for corporations is much-needed. We have to fight off all of the many competitions from overseas and it gives us a chance to recoup back to where we can make better payments in health care and insurance. So it would be good for all of us both big and small," said Craig Chrisman.
The tax rate will go from from 35 to 21 percent.
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