On Oct. 15, Associated Equipment Distributors (AED) submitted its priorities to the House Ways & Means Committee's Republican Tax Teams that are charged with studying key tax provisions from the Tax Cuts and Jobs Act (TCJA) and preparing for next Congress' expected reform debate.
"With much of the Tax Cuts and Jobs Act expiring, it's imperative that Congress make pro-growth, capital investment incentivizing provisions a permanent part of the tax code," said AED's President and CEO Brian P. McGuire.
"In 2017, AED was at the table during the TCJA debate and significantly impacted the final product to benefit equipment dealers. Once again, AED and its members will lead the way to ensure the equipment industry's priorities are fully considered and lawmakers understand the importance of tax policy that propels economic growth, investment, and job creation."
In its comments, the association focused on five key areas:
- Permanently reinstating 100 percent bonus depreciation
- Making permanent the 199A pass-through deduction
- Protecting the deductibility of business interest
- Maintaining current estate tax exemption levels and stepped-up basis
- Addressing the Highway Trust Fund shortfall that threatens transportation infrastructure investments
