Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement after the House passed comprehensive tax reform legislation:
The equipment manufacturing industry commends the House of Representatives for taking an important step forward toward enacting comprehensive, pro-growth tax reform for the first time in a generation
H.R. 1, the Tax Cuts and Jobs Act, will provide long-term tax relief for equipment manufacturers and their customers. The bill promises to help create new manufacturing jobs, grow the economy and make the tax code work for manufacturers right here in the United States.
AEM encourages all members of the House to fine-tune the legislation to make it as pro-growth as possible. Specifically, lawmakers should ensure that anti-base erosion provisions do not raise the cost of doing business in the United States and that small, family-owned manufacturers benefit from tax reform. AEM continues to be concerned that limits on interest deductibility will have a chilling effect on equipment manufacturers and dealers.
We look forward to working with the House and the Senate to continue to refine legislation so that it makes sense for the 1.3 million women and men of the equipment manufacturing industry.