On Oct. 3, the Delaware Valley Associated Equipment Distributors (DVAED) held its Fall business meeting at Delaware Valley Bobcat’s new facility in Downingtown, Pa.

Christian Klein, vice president of government affairs of AED, was the guest speaker for the meeting during which he discussed LIFO (“last in, first out”) and “death tax” repeal, federal infrastructure investment and recent AED policy victories, including defeating rental preferences in the SAFETEA-LU legislation, defeating the Internal Revenue Service (IRS) proposal to eliminate depreciation for rental equipment and the issuance of IRS Revenue Procedure that allows equipment distributors to use replacement cost to value parts inventory. Klein also discussed the industry outlook for the upcoming mid-term election in November.