Equipment manufacturing leaders issued statements on Thursday hailing the release of The Tax Cuts and Jobs Act by leaders in Congress.
Association of Equipment Manufacturers (AEM) President Dennis Slater said:
The equipment manufacturing industry commends Speaker Ryan, Chairman Brady and all the members of the House Ways & Means Committee for taking an important step on the path toward achieving pro-growth, pro-manufacturing tax reform. The legislation introduced today serves as a good foundation for continued debate in Congress. The Association of Equipment Manufacturers and its more than 950 members support permanent tax reform that simplifies the code, lowers rates for all businesses, and ultimately creates good-paying manufacturing jobs in America.
Equipment manufacturers have tirelessly advocated for pro-growth tax reform that improves the business environment for manufacturers in the United States and makes us more competitive as a nation. True reform is going to require hard work. Our elected leaders, regardless of party, should take their cues from the 1.3 million men and women of our industry, and put in the hard work necessary to enact meaningful and permanent tax reform that will create jobs and grow our economy.
Incoming AEM Chair and Doosan-Bobcat NA President Rich Goldsbury said:
The Tax Cuts and Jobs Act introduced today is an important first step toward meaningful reform of our outdated tax code. I applaud Speaker Ryan and Chairman Brady for their leadership and hard work to bring about pro-growth tax reform that will strengthen manufacturing in America and make our economy more competitive. There is much work to be done, but I am encouraged that the final product will create a modern tax code for the modern manufacturing economy.
Vermeer Corporation President and CEO Jason Andringa said:
Equipment manufacturers need a simpler tax code that provides permanent tax relief for manufacturing companies of all types. The Tax Cuts and Jobs Act introduced today is an important step toward comprehensive tax reform that will tilt the global playing field back in favor of U.S. manufacturers and spur manufacturing job growth across America. I urge our elected officials in Washington to work together to enact permanent and comprehensive tax reform to grow the economy and create more jobs for Americans.
Rick Alton, President, Compact Equipment Division, Manitou Group, said:
The tax reform legislation introduced today in Congress is an important step toward improving the business environment for manufacturers in the United States. Equipment manufacturers support pro-growth tax reform, and hope that Congress will work swiftly to simplify the code, lower rates for manufacturers of all types, and encourage manufacturing job growth in America.
General Kinematics President Tom Musschoot said:
I want to commend our leaders in Congress for introducing comprehensive tax reform legislation. This proposal would provide meaningful tax relief for equipment manufacturers including General Kinematics. Congressman Peter Roskam, who serves as chair of the Tax Policy Committee, deserves special credit for listening to the needs of his constituent businesses in putting together this legislation. We look forward to working with Congressman Roskam to advance comprehensive tax reform, which will help to improve U.S. manufacturers' global competitiveness in the decades to come.
AEM released a report earlier this month outlining the industry's priorities for tax reform. A copy of that report can be found here.