Associated Equipment Distributors (AED) issued the following statement after the United States House of Representatives passed the comprehensive budget reconciliation package, which includes nearly all of AED's pro-growth tax policy agenda along with other key provisions strongly supported by the association.
"AED commends House Speaker Mike Johnson and his leadership team for securing House passage of the budget reconciliation bill," said Brian P. McGuire, AED president and CEO. "This legislation delivers pro-growth tax policies, streamlines energy project approvals and strengthens surface transportation infrastructure investments. We look forward to working with the Senate to ensure final passage of this comprehensive package."
Representing nearly 500 distributor members and more than 350 manufacturers and service providers across the United States, AED members operate at over 6,400 locations nationwide, employ 112,000 workers and generate more than $87 billion in annual revenue.
Key AED-supported provisions include:
• reinstating 100 percent bonus depreciation and the business interest cap tied to EBITDA;
• enhancing and making permanent the 199A qualified business income deduction;
• permanently increasing estate and gift tax exemptions;
• making permanent the Tax Cuts & Jobs Act's modified individual income tax rates;
• increasing Section 179 expensing levels;
• expediting the permitting process for energy infrastructure projects, including pipelines; and
• establishing a national registration fee to ensure electric and hybrid vehicles contribute to the Highway Trust Fund.
AED applauds the House's action and urges the Senate to act swiftly to enact this legislation and deliver a long-term boost to the nation's economy and the equipment distribution industry.
