Fuel Oil News

Fuel Oil News July 2016

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www.fueloilnews.com | FUEL OIL NEWS | JULY 2016 25 treatments and cures for neuromuscular diseases that severely limit strength and mobility. We look forward to our con- tinued partnership so we can help MDA families live longer and grow stronger." CITGO kicked off the year of cel- ebration by contributing to each local MDA office where its annual Marketer Roundtable Meetings were held within the company's marketing footprint. In addi- tion to providing funds for 19 local offices during these meetings, the company also recognized those marketers who raised more than $5,000 for their respective local MDA office throughout 2015. Continuing throughout the year, CITGO employees, marketers and retail- ers will host multiple fundraisers and sponsor a number of local events. "MDA shares a long history with CITGO and many of our branded Marketers. Our relationship has expanded over the years, and has since become an integral part of our corporate social responsibility and Fueling Good platforms," said Rick Esser, vice presi- dent, supply and marketing for CITGO. "Locally, working with MDA is a great way for our nearly 5,500 locally-owned stations to get involved in their communities, and on a corporate level, our employees can rally around and support this important cause." NEW SMALL BUSINESS TAX REFORM BILL ANNOUNCED The Job Creators Network announced its support for the Bring Small Businesses Back Tax Reform Act (H.R. 5374), announced by U.S. Rep. Randy Hultgren (R-IL), which would reduce the tax bur- den on the nation's small business job creators. U.S. small businesses account for half the nation's jobs and two-thirds of its new jobs. The Act would: Lower the tax rate for pass-through businesses' first $150,000 of income to 10 percent and to 20% for their first $1 mil- lion of income. Allow pass-through businesses to immediately expense all investment in equipment. Simplify cash accounting for tax pur- poses for all businesses with gross receipts less than $25 million. A national poll conducted this year by JCN shows that only one-in five small businesses plan to hire additional employ- ees over the next year, and only around one-quarter believe that doing business over the next year would be easier than the previous one. This poor small business climate disproportionately hurts minori- ties, who are more likely to be new small business owners. Two thirds of small business owners polled said that over taxation is keeping them from thriving. Pass-through businesses, including S Corporations, sole proprietor- ships, partnerships, and LLCs, account for more than 60% of U.S. companies. Because these businesses "pass through" income and losses to the owner(s), many are subject to personal tax at combined state and federal rates of over 40%. WESTMOR INDUSTRIES HOSTS SECOND ANNUAL HIGH SCHOOL WELDING COMPETITION For the second year in a row, Westmor Industries hosted a high school welding competition at its corporate headquarters in Morris, Minnesota. Held at the compa- ny's on campus welding training school, the number of teenage competitors increased more than 60% this year. "As many people now know, it's g e t t i n g h a r d e r a n d h a r d e r t o f i n d skilled trade workers in America," said Dave Dybdal, one of the instructors at Westmor's welding training school. "Our competition is about getting kids under the hood and allows them to see, feel, listen and even smell the great benefits of a career in welding." Interested participants came to Westmor from all over the state of Minnesota, includ- ing a group of students from three and one-half hours away. First and second place finishers were awarded a PRO-MIG™ 140 Welder from Lincoln Electric along with brand new welding helmets. The third, fourth and fifth place finishers received a welding gear package, which included edu- cational materials and tools. During the competition, the kids were asked to complete a timed, dual applica- tion welding assignment in the school's lab. Judges graded the finished project on proper weld bead placement, uniformity, blue print reading and other factors. "You can have a golden arm, but if you're unable to follow instructions according to the blueprint it's an auto- matic rejection in our competition," said Dybdal. "At the end of the day, the kids quickly realize the skills they need to sharpen for better proficiency." l F O N

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