11/15/2012Advisor Newsletters - AEM Advisor
AEM is urging Congress to take immediate and aggressive bipartisan action to comprehensively solve the U.S. budget deficit and create needed fiscal certainty for America’s equipment manufacturers.
Understanding that there can be no other legislative progress unless the U.S. puts its fiscal house in order, the AEM Board of Directors led by new Chair Stuart Levenick agreed to make fixing the nation’s debt the Association’s top legislative priority when it met November 9.
The Board of Directors called on Congress to adopt a balanced solution that decreases spending; includes comprehensive and pro-growth tax reform that broadens the base, lowers rates, raises revenues, and reduces the deficit; and invests in infrastructure and education. Doing so will stabilize markets and free up capital so American manufacturers can once again have the opportunity to grow their businesses and hire, AEM noted.
AEM will also encourage other legislative action that supports equipment manufacturers and their interests.
- Russia PNTR – Establishing permanent normal trade relations (PNTR) with Russia has been a priority for AEM. A final bill is now closer than ever to being passed through the House of Representatives. AEM will continue to guide this bill through Congress until it is on the President’s desk for signature.
- New Farm Bill – Farmers, ranchers and equipment manufacturers are still waiting for a new Farm Bill from Congress to replace the law that expired in September 2012. AEM has joined the Farm Bill Now coalition to raise public awareness of the urgent need to pass a comprehensive five-year Farm Bill without delay.
- Keystone Pipeline – Energy is a forefront issue for equipment manufacturers, and AEM will continue to outline the benefits of the Keystone Pipeline, fracking, shale oil, and renewable energy with the incoming Congress.
- Tax Issues – AEM will focus on a number of tax provisions that affect member companies, including the estate tax, agriculture equipment depreciation, the R&D tax credit and comprehensive tax reform.
- Highway Funding – While AEM successfully pushed for a new two-year highway transportation bill, Congress must still face the looming transportation fiscal cliff and the need for long-term highway funding. AEM will continue to stress that America’s aging and deteriorating infrastructure system requires substantial investment and improvements, and that the strength of the U.S. economy, private sector job growth and global economic success are dependent on an improved infrastructure system.
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