AED to Testify on Construction Equipment Industry Tax Reform Agenda

Tue April 09, 2013 - National Edition

Associated Equipment Distributors (AED) Vice Chairman Tim Watters will testify before the U.S. House of Representatives Small Business Committee at an April 10 hearing, “Small Business Tax Reform: Growth Through Simplicity.”

Watters is president of Hoffman Equipment, which is headquartered in Piscataway, N.J. and sells, rents, and services construction machinery from five locations across New Jersey and New York.

AED’s witness will emphasize that the overly-complicated and anachronistic federal tax code is undermining economic growth. Watters’ testimony will draw from a recent AED tax survey, which outlined construction equipment distributors’ top tax reform priorities. In addition to simplifying the code, key issues for AED members include preserving business interest deductions, protecting use of the last in, first out (LIFO) inventory accounting method, alleviating the estate tax burden on family businesses, holding equipment distributors harmless from the new 3.8 percent Affordable Care Act tax on rental income, and identifying new user fees to support federal surface transportation investment.

The testimony will take place at 1:00 p.m. and the address for the event is:

2360 Rayburn House Office Building

Washington, DC 20515