Taxes

Association of Equipment Manufacturers (AEM) president Dennis Slater issued the following statement after the Trump Administration announced it was delaying the implementation of Section 232 tariffs on automobiles and auto-parts for six months: "Today President Trump announced that his administration is delaying implementation of Section 232 tariffs on automobiles and auto-parts for six months.

Pennsylvania Congressman Mike Kelly (PA-6) called on Congress to take steps to authorize composite plans, repeal the Cadillac tax, and pass a long-term infrastructure bill during a visit to a local construction project on May 3. The Congressman made his comments while touring a local construction project by P.J.

Rep. Doug LaMalfa, R-Calif., and Rep. Collin Peterson, D-Minn., introduced H.R. 2381, the Modern, Clean, and Safe Trucks Act of 2019, on April 30 that would repeal the current 12 percent federal excise tax or FET on heavy commercial trucks and trailers.

Michigan Gov. Gretchen Whitmer called for a 45-cent increase in the state's fuel tax to occur in three phases over a 12-month period, an effort she said in a statement March 5 that should generate $2.5 billion in fresh transportation funding. "I've heard from people all across Michigan, and this budget reflects the priorities they have shared," Whitmer said.

The governors of Arkansas and Alabama recently approved fuel tax increases, with Arkansas also placing on the 2020 ballot an amendment that would "indefinitely" extend a half-cent sales to generate $205 million a year for highway infrastructure needs.

Construction Partners Inc. , a civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, issued a statement March 14 following the enactment earlier in the week of the Rebuild Alabama Act, which provides for an increase in Alabama's gas tax to be used for transportation infrastructure projects.

Wisconsin Gov. Tony Evers wants to generate $600 million in new revenues to "fix Wisconsin's roads, bridges, and highways" through additional registration fees on personal vehicles and commercial trucks as well as through adjustments to the state's fuel tax formula.

Local government officials, local chambers of commerce, and local transportation groups are working together as part of a new advocacy organization to increase Ohio's state fuel tax and impose a fee on alternative-fueled vehicles to help generate more transportation funding.

CARSON CITY, NEV. (AP) Nevada's revenue from sales, gambling and other taxes will grow more than the inflation rate through mid-2021 for a total increase of $591 million, according to financial projections. The Nevada Economic Forum approved the projections on Dec.

SACRAMENTO, CALIF. (AP) California's campaign watchdog said it is investigating whether a campaign to preserve the state's recent gas tax hike violated finance rules. The Fair Political Practices Commission will look into a complaint filed by the opposing campaign that alleges state employees distributed flyers urging voters to keep the tax increase in place.

The economy will boom — or only the rich will get richer! These were the competing political views as U.S. lawmakers sat down last year and thrashed out an overhaul of U.S. tax policy. In January, a new set of tax laws was on the books. Half a year later, while the political back and forth continues, the impact of tax reform on the economy in general and the construction and heavy equipment industries in particular seems generally positive.