AED News

The AED Foundation Raises Record $85,000 In Support Of Career and Technical Education

January 24, 2017 3:01 pm

The AED Foundation Raises Record $85,000 In Support Of Career and Technical Education
Foundation Awards and Live Auction Round Out Successful Gala

The AED Foundation today announced the final tally for their annual Fundraising Gala held last week at the Untitled Supper Club in Chicago-a record breaking $85,000. The funds will support The AED Foundation sponsored Career and Technical Education programs and cutting edge research on workforce issues. “I’d like to thank all of our sponsors, board members, host committee and other donors who made this event possible,” said AED Foundation President Robert Henderson. “The AED Foundation has a critical mission to ensure the future success of the heavy equipment industry.”

The Foundation focuses on three primary areas:

Accreditation-The AED Foundation programs set the National Criteria for Construction Equipment Technology College Programs.

Career Promotion– The AED Foundation programs offer not just job training, but long-term career pathways and continuing education.

Research-The AED Foundation funds the research that backs up its claims on the importance of workforce development and shares that data with legislators, educators, the media and other stakeholders. The latest study by the College of William & Mary released last week can be accessed here: AEDFoundation.org/dealer-resources.

The Gala also afforded The AED Foundation the opportunity to recognize key leaders within the organization.

The LESTER J. HEATH, III AWARD given in honor of Lester Heath, the first President of The AED Foundation, to an individual demonstrating outstanding contributions to the Foundation through involvement and support of Foundation activities including training, accreditation and workforce development was given to Mr. H. E.  (Ed) Kirby, Jr., President of Kirby-Smith Machinery.

The FOUNDATION CHAMPION AWARD in recognition of distinguished service or merit of a manufacturer or service provider that has provided significant contributions to the workforce goals of The AED Foundation was given to Caterpillar Inc. and accepted by Anthony Fassino, Region Manager for Caterpillar and AED Foundation board member.

The FOUNDATION PARTNER AWARD in recognition of distinguished service or merit of a manufacturer or service provider that has provided significant contributions to the professional education goals of The AED Foundation. It was given to Komatsu America Corp. and accepted by Mike Hayes, Director Distributor Development for Komatsu America Corp. and AED Foundation board member.

AED is an international trade association representing companies involved in the distribution, rental, and support of equipment used in construction, mining, energy, forestry, power generation, agriculture, and industrial applications.  More information is available at www.aednet.org.

The AED Foundation enhances the success of member companies by encouraging continuous learning, by providing educational opportunities for today’s employees, and by improving the availability and quality of equipment industry employees in the future. More information is available at aedfoundation.org.

AED Congratulates New Congress, Outlines Legislative Priorities

January 3, 2017 11:11 pm
On January 3, Associated Equipment Distributors’ President & CEO Brian McGuire delivered a letter to the 115th Congress urging action on the construction equipment industry’s legislative priorities.  The letter’s delivery coincided with the commencement of the new congressional session.
McGuire wrote, “Equipment distributors are ready for Congress and the administration to put partisan differences aside and immediately work together to enact growth-inducing, job-creating policies to ensure the country’s economic vitality for decades to come.”  McGuire also outlined the association’s tax reform, infrastructure, workforce, energy, health care, and regulatory priorities.
Be sure to attend next week’s AED Summit & CONDEX in Chicago to hear more about the association’s public policy agenda and the threats and opportunities with the new Congress and administration.  Also, mark your calendars for AED’s 2017 Washington Fly-In on April 4-6.

Colorado Sales Tax Statute Has Far-Reaching Implications for Dealers (Retailers) Everywhere

December 13, 2016 8:59 pm

By Rex A. Collins CPA, CVA

HBK Dealership Industry Group

States continue to struggle to pay for their institutions and programs. They are looking for ways to generate more revenue. And they are getting increasingly aggressive in their efforts.

Recently Ohio decided that a business didn’t have to have an in-state location to owe a “commercial activity tax” if it sold its products to customers in the Buckeye State. Now Colorado wants to collect sales tax on purchases its citizens make from out-of-state businesses. The Centennial State has passed and enacted a law that requires all companies making sales to consumers and businesses in Colorado to report the sales and related taxes to both the customers and Colorado. Amazon and other online retailers challenged the law, but on Monday December 12, 2016 the U.S. Supreme Court declined to hear the case, in effect, allowing the statute to stand.

That customers buying goods from businesses in other states owe sales taxes to those states is not new. But most customers making purchases online ignore the rule. Colorado’s statute is indicative of how states are now expending significant effort to collect these taxes. At least three other states – Louisiana, Oklahoma and Vermont – have passed similar laws that could take effect in the wake of Colorado’s action.

A 1992 Supreme Court decision states that a business must have a physical presence – the term is broadly defined – in a state to be required to collect and remit sales taxes. Colorado’s law does not contradict the Court; it doesn’t require the business to collect the tax, only to report the sale and related tax.

Most dealers are aware that customers buying goods from out of state owe sales taxes on those purchases to those states. Many dealers have received surprise audits from other states, some resulting in six-figure sales tax assessments on cross-border transactions. In requiring retailers to notify customers to pay sales tax and to report purchases to the state, Colorado might have found an easier way to track and eventually collect those taxes.

The Supreme Court’s refusal to hear Amazon’s challenge could have far-reaching implications for dealers serving out-of-state customers. Other states are certain to follow, interpreting the Court’s decision as an endorsement of the law and enacting similar statutes in effort to collect additional tax revenue. While it is likely that other challenges to such statutes will be launched on the basis that compliance by out-of-state retailers is an excessive burden to their businesses, dealers  must comply with Colorado’s statute.

Further, dealers (retailers) need to be prepared for what could be an onslaught of such state statutes. We advise dealers to put in place a system to (1) track purchases from out-of-state customers, (2) notify these customers of the sales tax amounts and their obligation to remit the taxes to their home states, and (3) report out-of-state sales to the designated state tax agencies.

Rex Collins is a Principal at HBK CPAs and Consultants. He directs HBK’s National Dealership Industry Group, which provides tax, accounting, transactional and operational consulting exclusively to dealers. Rex can be reached at 317-504-7900 or at rcollins@hbkcpa.com.

AED Commends Congress for Passage of Bipartisan Water Infrastructure Package

December 13, 2016 2:25 pm

AED President & CEO Brian P. McGuire issued the following statement following congressional approval of the Water Infrastructure Improvements for the Nation (WIIN) Act. The legislation authorizes dozens of Army Corps of Engineers’ projects, such as building, maintaining and improving harbors, dams, locks and navigation channels, and provides resources to upgrade drinking water infrastructure in communities impacted by lead contamination.

“AED commends the House and Senate for coming together to pass the WIIN Act and making this important bill a priority before wrapping up work for the year. The WIIN Act is a win for everybody.  It will target investment to necessary projects, create jobs and stimulate economic activity across the country, all while spurring construction equipment demand. Importantly, the infrastructure investment under the WIIN Act will also improve the movement of products and goods to market for American businesses and consumers.  We look forward to House and Senate leadership, in conjunction with the next administration, working in a similarly constructive manner to invest in other types of critical infrastructure and create an environment conducive for long-term growth and job creation.”

Judge Halts New Overtime Rules

November 29, 2016 10:13 pm

On Nov. 22, a federal judge in Texas issued a preliminary injunction blocking implementation of the Obama administration’s controversial overtime rules, which would have imposed a significant burden on commercial enterprise, particularly small businesses. The court determined the Department of Labor (DOL) exceeded its authority in the final regulation.

The onerous requirements were set to take effect on Dec. 1 and would have doubled the Fair Labor Standards Act’s (FLSA’s) salary threshold for overtime pay exemption. Under existing regulations, employees earning an annual salary in excess of $23,660, and who perform qualified administrative, managerial or professional duties, are not entitled to overtime compensation. The new regulation would have required salaried workers earning less than $47,476 to receive additional pay if they work more than 40 hours in a week. In addition, the salary threshold would automatically update every three years to match the 40th percentile of full-time salaried employees in the lowest-wage census region in the U.S.

On Sept. 28, the House approved the Regulatory Relief for Small Businesses, Schools & Nonprofits Act (H.R. 6094), which would have delayed the rules effective date for six months. The bipartisan legislation wasn’t taken up by the Senate and likely won’t see further action this Congress given the court’s decision.

With the Obama administration winding down, the rules’ future is in jeopardy as President-Elect Trump’s support is unlikely and further court proceedings are months away. While the ruling brings welcome relief, it does not eliminate all uncertainty for businesses, particularly those employers who had already planned to comply with the mandate only to have it reversed in the final two weeks before implementation.

Frank Martin Sons’ Ouellette Repeats as AED Pundit of the Year

November 22, 2016 3:20 pm

AED is pleased to announce that Steve Ouellette, president of Frank Martin Sons, Inc. in Ft. Kent Mills, Maine is the winner of AED’s 2016 Pundit of the Year contest. Ouellette remained cool headed through October’s campaign tumult and correctly predicted the outcome of seven of the ten races highlighted in this year’s challenge.

The repeat victory – Ouellette also earned the top spot for the previous national election in 2014 – is his third overall.

Along with the bragging rights that come along with this prestigious acheivement, Ouellette will receive a plaque evidencing his punditry at the 2017 AED Summit in Chicago in January.

Trump Election Creates Enormous Opportunities (and a Few Risks) for the Equipment Industry

November 14, 2016 9:02 pm

What Donald Trump achieved on election day was both unexpected and historic. Despite unprecedented fragmentation and disunity in the Republican Party, Trump excited the base and turned out the vote. Not only did he get himself elected, but the excitement he generated drove Republican turnout across the country, helping to protect vulnerable seats and keeping the House and Senate in GOP hands.

In the wake of victory, most Republicans who abandoned Trump on the campaign trail seemed happy to fall back in line and bask in the victory. Democrats, who had bought into the conventional wisdom that they would win the presidency, Senate and perhaps even the House (always a long shot), were left with jaws agape and heads shaking.

The election results create enormous opportunity for the equipment industry. Seen at his best, Trump is a successful, entrepreneurially-minded, free market capitalist with broad business experience and a track-record of success in a range of projects. His election means tax reform, infrastructure investment and the rollback of regulations imposed by an unaccountable bureaucracy are within closer reach. Trump has the opportunity to shatter the conventional wisdom about policymaking just as he did about electoral politics.

But there is risk as well. Trump has no track record in elected politics, an unpredictable temperament and seemingly little knowledge – or interest – about policy details. While that means he’ll likely defer heavily to his deputies, it also creates uncertainty about how he’ll conduct himself both on the domestic political front and on the world stage. That uncertainty could mean economic volatility.

Another major risk is trade. Trump tapped into sentiment among voters in both parties opposed to globalization and pledged to pursue more protectionist policies which could hurt trade and undermine economic growth. If it wants to protect trade deals, the business community will have to do a much better job of explaining the long-term economic benefits to voters who launched Trump to power.

AED Well-Positioned to Be Effective in the New Political Environment
The 2015-2016 election cycle was historic for AED. AED PAC shattered all previous records. AED members stepped up to the plate in big way and contributed more than ever before. That support allowed AED to back a diverse group of candidates in districts around the country, more than 50 of whom received their AED PAC support personally from a dealer exec at an ImPACt 2016 meeting. Of the more than 70 congressional candidates we supported, only five lost their election bids, an impressive outcome in such a volatile political environment.

Through the unpredictable two-year election cycle, AED steered a conservative path. Our PAC strategy was to back candidates with strong track records on infrastructure, tax, regulatory and workforce policy and emerging leaders on both sides of the aisle. As we look to the next Congress, we’re confident that strategy will position us to be successful and effective in policy areas that matter most to our members.

The Political Big Picture
Although Republicans have slightly-reduced majorities on Capitol Hill, they’re still squarely in control. The GOP will control at least 51 Senate seats in the 115th Congress (down from 54 in the 114th) and may pick up one more depending on the outcome of the Louisiana runoff election on Dec. 10. In the House, the Republican majority was cut slightly from 246 seats to 238. That still gives Republicans a comfortable 20-seat cushion above the 218 votes needed to pass legislation.

The only defensive line left to Democrats in the policy process is the Senate filibuster. The GOP will be at least eight votes shy of the 60 need to shut off debate. Getting key elements of the Trump agenda through will require using arcane budget rules (i.e., reconciliation) to pass legislation with a simple majority or convince/coopt/persuade/bludgeon enough Democrats to cross party lines and vote for popular policy positions.

Due to the dynamics of the now-looming 2018 congressional elections, that’s not out of the question. In two years, Democrats will be defending 25 Senate seats (if you include the two independents who caucus with Democrats) and the Republicans only eight. Nine Democratic senators will face reelection in states that Trump won. Five of those Democrats are from the heavily Republican states of Indiana, Missouri, Montana, North Dakota, and West Virginia, all of which Trump won handily. Five others are from the major swing states of Florida, Ohio, Pennsylvania, Virginia, Wisconsin, all but one of which went for Trump.

Those vulnerable Democrats will come under enormous pressure from voters back home to work with Trump and the GOP majorities. But if they do, they may also find themselves subject to challenges from the far-left wing of the party, which will likely be invigorated in the wake of the 2016 elections.

With that background on the political landscape, here’s our prognosis about what’s ahead in several of the issue areas that matter most for AED members:

Infrastructure

  • Trump made infrastructure a big part of his platform and frequently drew the connection between federally-funded construction and job creation.
  • His transition website continues that theme: “the Trump Administration seeks to invest $550 billion to ensure we can export our goods and move our people faster and safer. We will harness technology and make smarter decisions on how we build and utilize our infrastructure. Our roads, bridges, airports, transit systems and ports will be the envy of the world and enhance the lives of all Americans. We will build the roads, highways, bridges, tunnels, airports, and railways of tomorrow.”
  • Response from Democrats to the infrastructure initiative is generally positive. House Democratic Leader Nancy Pelosi (Calif.): “As President-Elect Trump indicated … investing in infrastructure is an important priority of his. We can work together to quickly pass a robust infrastructure jobs bill.”
  • Ironically, the most opposition to transportation investment may come from Trump’s fellow Republicans. Senate Majority Leader Mitch McConnell (R-Ky.) has said it is not a priority. The Heritage Foundation and other conservative groups have been outright critical. It will be incumbent on the business community to make the case the infrastructure construction isn’t stimulus; it’s about investing for the long-term in the backbone of the economy.
  • What form Trump’s infrastructure investment will take and how it will be funded is unclear. AED has long advocated for increased user fees to restore the Highway Trust Fund’s long-term solvency. While House Republicans have generally dismissed the idea of a gas tax increase, some senior House leaders have hinted they could support a vehicle miles traveled (VMT) tax. If that happens, it will likely be as part of broader tax reform (see below).
  • Shirley Ybarra, Trump’s transition chief for transportation policy, is known to be a proponent of public-private partnerships, which create revenue streams for private sector firms that front the costs for infrastructure improvements. It’s a good bet that bonding, tax credits and other tools to attract more private investment will form a big part of the Trump proposal.
  • The leadership of the House Transportation & Infrastructure Committee will remain unchanged. Chairman Bill Shuster (R-Pa.) will return for a final two-years as chairman and Rep. Peter DeFazio (D-Ore.) will again be the Committee’s ranking Democrat. Because Shuster is term limited out of the position at the end of 2018, the race for the Committee’s next chairman will be part of the drama surrounding transportation policy over the next two-years.
  • Bigger changes are afoot at the Senate Environment & Public Works (EPW) Committee. EPW Chairman Jim Inhofe (R-Okla.) will be stepping down because he is term limited and Ranking Member Barbara Boxer (D-Calif.) is retiring. Conservative Inhofe and liberal Boxer have been an unlikely “dynamic duo” when it comes to the highway bill and other infrastructure initiatives in recent years and we’re certain to miss their bipartisan leadership. Sen. John Barrasso (R-Wyo.) is expect to take over the EPW gavel; however, who will ascend to become ranking member is less clear. Given that several of the senior Democrats on EPW are already ranking members on other prominent committees, Sen. Sheldon Whitehouse (D-R.I.) is the most likely candidate to be EPW’s next top Democrat.

Taxes

  • Trump’s election and the maintenance of the status quo in Congress make tax reform in 2017 much more likely. A once-in-a-generation tax and budget deal in the first half of next year is a real possibility.
  • From a personnel standpoint, nothing much changes on the tax policy front on Capitol Hill. Rep. Kevin Brady (R-Texas) is still Ways & Means chairman; Sen. Orrin Hatch (R-Utah) will still wield the Finance Committee gavel. While there was speculation that House Speaker Paul Ryan (R-Wis.), a major tax reform proponent, might be challenged for his leadership by party conservatives, for now at least, it looks like Ryan’s job is secure.
  • The starting point for the tax reform discussion is the GOP tax reform plan released last June. If you haven’t already, get to know it now because you’re going to be hearing a lot about it in the months ahead.
  • There’s a lot to like in the House GOP plan. Among its key components:
    • Creating a separate 25 percent tax rate for pass-through companies, lowering the U.S. corporate tax rate to 20 percent, shifting to “territorial” system to tax U.S. companies operating internationally.
    • 100 percent expensing for business assets.
    • Repealing the death tax.
    • Eliminating the alternative minimum tax.
    • Consolidating the individual system to three tax brackets, lowering the top individual income tax rate to 33 percent, creating a larger standard deduction and a larger child and dependent tax credit.
    • Streamlining the maze of education tax benefits.
    • Cutting taxes on savings and investment by allowing families and individuals to deduct 50 percent of the dividends, capital gains and interest received from stocks and mutual funds.
  • However, there are red flags in the GOP plan as well. It would eliminate the business interest deduction, which would hit capital-intensive industries like ours hard. While the plan would not repeal LIFO, it’s silent on LKE. It and other tax expenditures would almost certainly be in the crosshairs to bring down the cost of lowering tax rates. The plan is also silent on new revenues for infrastructure, which AED has long said should be part of any comprehensive tax reform bill.
  • With tax reform looming even larger, it’s imperative that AED members give us the data we need to advocate for the industry. If you haven’t already done so, please take a few minutes to respond to our tax survey.

Career Technical Education and Workforce

  • Career technical education will be an issue in the next Congress as a matter of necessity. Rebuilding America’s infrastructure, as Trump says he wants to do, will require legions of skilled laborers to work directly on projects, operate and maintain machinery and support all the industries (e.g., engineering and materials) that feed into construction. Additionally, revitalizing the middle class requires preparing workers for the types jobs that exist in the 21st century U.S. economy.
  • Trump said on the campaign trail that in his first 100 days he would pursue a School Choice and Education Opportunity Act that, among other things, “expands vocational and technical education, and make[s] 2 and 4-year college more affordable.” The Trump transition team website’s education page says the new administration “will advance policies to support learning-and-earning opportunities at the state and local levels – where the heart and soul of American education takes place,” but provides no more specifics. This suggests an important opportunity for the business community to provide input and guide policy in this area.
  • It’s also a certainty that Congress and the Trump administration will seek to rollback recent workforce and labor changes imposed by the Obama administration.
  • Rep. Virginia Foxx (R-N.C.) is the leading candidate to be the next chairman of the House Education & Workforce Committee. With a doctorate in education and a stint as a community college president, she’s is uniquely prepared to take on the skilled worker shortage.
  • AED has cultivated a strong working relationship with Foxx and she’s acutely aware of the technician shortage in the equipment industry, having cited the results of the AED Foundation’s recent William & Mary study in a House floor speech on workforce issues.
  • But what happens next year on career technical education depends partially on what happens this year. There’s still a chance that Congress could send President Obama a bipartisan Perkins Act reauthorization bill like the one recently passed by the House.

Regulatory

  • Republicans have roundly criticized the Obama administration for its aggressive regulatory agenda. Gridlock on Capitol Hill has made it difficult for Congress to impose discipline and reign in the executive branch. The courts have generally given enormous deference and stayed out of policy decisions.
  • Trump pledged to institute “a requirement that for every new federal regulation, two existing regulations must be eliminated.” He also said that on his first day in office he would impose a hiring freeze on all federal employees to reduce federal workforce through attrition (exempting military, public safety and public health).
  • How the hiring freeze will play out, is unclear. Broadly-defined, most federal agencies (including ones like EPA and OSHA that are perennial targets for Republicans) serve a public health or safety function. It would be an odd result if Trump reduced agencies like the Federal Highway Administration, which will play a pivotal role in any new infrastructure program, while allowing OSHA and EPA to continue to grow.
  • While we’re anxious at the opportunity to roll back some of the Obama administration’s worst regulations, wise industries will also be capitalizing on the opportunity to suggest improvements to regulatory regimes that are here to stay.

Energy

  • The energy sector – and coal producers in particular – is among the ones with the most to gain from a Trump administration.
  • Energy issues play a prominent part in Trump’s plan for his first day in office. He has pledged to “lift the restrictions on the production of $50 trillion dollars’ worth of job-producing American energy reserves, including shale, oil, natural gas and clean coal” and “lift the Obama-Clinton roadblocks and allow vital energy infrastructure projects, like the Keystone Pipeline, to move forward”.
  • President-Elect Trump is also apparently looking for ways to accelerate the United States’ withdrawal from the Paris climate change treaty.
  • He has named the Competitive Enterprise Institute’s Myron Ebell as the point person for environmental policy on the transition team. Ebell is a long-standing critic of the Obama administration’s clean power plan, which seeks to reduce carbon emissions from electricity generation and which would almost certainly lead to the shutdown of many coal-fired power plants.

Trade

  • From an economic standpoint, perhaps the most troubling part of President-Elect Trump’s first 100-day agenda is what it might mean for trade. Breaking with decades of Republican Party orthodoxy in support of free trade, he’s pledged to renegotiate or withdraw from NAFTA, withdraw from the Trans-Pacific Partnership and label China a currency manipulator, which could trigger a broader trade dispute.
  • He’s also said he’ll “seek tariffs to discourage companies from laying off their workers in order to relocate to other countries and ship their products back to the U.S. tax free.” Exactly how those tariffs would work is unclear, but they could make it harder for U.S. companies operating internationally to lower costs by shifting activities from country to country.
  • Trump has called the Export-Import Bank, which has been used by dealers and manufacturers to export equipment, “feather bedding,” that it only benefits politicians and a few companies, and that it’s “really not free enterprise.”
  • There’s little doubt that Trump and the business community will clash on trade issues. If the business community wants protect recent policy victories on the trade front, it is imperative that companies and associations do a much better job articulating how Americans have broadly benefited from free trade and pursue more effective programs to help those who have lost jobs as a result gain new skills and better-paying positions.
  • Other “protectionist” measures, such as Buy American policies, will likely be looked at more favorably by Trump’s team than any Republican administration in recent memory.

There’s no doubt that 2017 will be a busy year for our industry in Washington, D.C. The association looks forward to working with its members around the country to achieve policy victories on a range of issues that will help increase equipment demand and reduce dealer costs of doing business.

AED Again Names PwC and Accruit Preferred Providers of Like-Kind Exchange Services

November 11, 2016 3:33 pm

The Associated Equipment Distributors (AED) named PricewaterhouseCoopers LLP (PwC US) and Accruit the preferred providers of like-kind exchange (LKE) services for the second consecutive year in 2016. For more than a dozen years, PwC and Accruit have been supporting members of the AED, and they currently provide LKE services to over 75 AED members.

“Each year, PwC and Accruit adapt to new challenges faced by our members.  Our continued relationship with the leading providers in this space just makes good sense to the industry and to our association.” said Brian McGuire, AED President and CEO.

PwC and Accruit’s joint business relationship combines PwC’s tax and technology proficiencies with Accruit’s qualified intermediary (QI) expertise. Together, the two companies service more than 170 clients across 20 industries with integrated 1031 like-kind exchange programs. This unique relationship enables PwC and Accruit to structure comprehensive LKE programs with a clear separation of tax and like-kind exchange services required by the Internal Revenue Code (IRC).

Accruit CEO Brent Abrahm expressed satisfaction toward the company’s continued relationship with AED. “We are pleased that the AED continues to find value in LKE offerings tailored to fit the needs of their members.”

According to Dave Fowler, leader of PwC’s LKE Services practice, “Our relationship with the AED is one of mutual confidence developed over time. We’re privileged to continue to bring value to the organization and its members.”

About PwC

With offices in 157 countries and more than 223,000 people, we are among the leading professional services networks in the world. We help organizations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services.  See www.pwc.com for more information.

PwC’s Like-Kind Exchange Services has helped over 170 companies enhance cash flow and tax deferral on the sale of assets by automating the processes needed to satisfy stringent IRS LKE requirements and provide the tax reporting necessary for tax compliance.

About Accruit

Accruit, LLC is the nation’s leading provider of qualified intermediary and 1031 like-kind exchange program solutions, serving more than 20 industries. Accruit handles all types of LKEs, including real estate, business assets, collectibles, and franchises; they facilitate all types of forward, reverse and improvement exchange transactions nationwide.  Accruit also provides escrow services through its subsidiary, Bankers Escrow.

For more detailed company information, please visit www.accruit.com.

U.S. Election Results Bring Immediate Opportunity for American Growth and Investment

November 9, 2016 3:13 pm

Brian P. McGuire, president and CEO of AED, issued the following statement on the results of the 2016 U.S. federal elections.

AED and construction equipment distributors and manufacturers across North America look forward to working with President-elect Donald Trump and members of the next Congress on pro-growth policies to put the United States on strong economic footing for years to come. There’s an immediate opportunity to rebuild our crumbling infrastructure, reform the nation’s tax code, develop the next generation of skilled workers and lower the cost of doing business for small companies. The voters have spoken and AED is standing by to work with members of both parties to create an economic environment that encourages job creation, growth, investment and entrepreneurship.

The Morning After – AED’s Perspective

November 9, 2016 2:54 pm

Fellow AED Members:

I’m writing as AED’s 2016 chairman to share some thoughts about what happened last night and what the election results mean for the construction equipment industry.

Donald Trump stunned Hillary Clinton and the nation by pulling out a dramatic victory and winning the White House against all expectations.  Republicans also retained control of both the House and Senate.  Despite pundits’ predictions and polling projections, Trump ran the table and scored victories even in places Clinton was expected to win handily.

AED congratulates President-elect Trump. We look forward to working with him and the new administration. We’re eager to help him fulfill his campaign promises to reinvigorate the U.S. economy and invest in infrastructure.  AED will actively engage the new administration to make sure dealer interests are taken into account. We will work together at every opportunity but we won’t hesitate to object and challenge policy decisions when the interests of our members demand it.

The election results create enormous opportunity for the business community.  True tax reform is now a much more realistic possibility, as are reforming Obamacare and rolling back a host of burdensome regulations.

While the dust from election 2016 is still settling, one thing is clear: The 2015-2016 election cycle was the most successful in the association’s history and AED members should be extremely proud. Thanks to support from dealers around the country, the AED PAC played a more visible role in this year’s congressional elections than ever before. As of Nov. 8, your PAC had contributed a record $170,000 to more than 70 House and Senate candidates.

Our PAC strategy focused on supporting incumbents who stood with us on key infrastructure, tax, workforce and regulatory votes over the past two years, cultivating relationships with emerging leaders on both sides of the aisle, and reinforcing ties between our members and their local members of Congress. More than 50 congressional candidates received their AED PAC checks personally from equipment industry leaders at ImPACt 2016 meetings that took place around the country over the past two years.

Ultimately, our strategy paid off and AED PAC-supported candidates faired extremely well. As of this morning, only four of the 70 candidates supported by AED had lost.  Here’s a quick breakdown of how some of our top PAC support recipients fared:

  • In one of the most-watched Senate races of the cycle, Ohio’s incumbent Senator Rob Portman (R-Ohio) beat former Gov. Ted Strickland by a wider than expected margin.
  • Senator John Hoeven (R-N.D.), a champion on energy issues, easily won reelection in North Dakota.
  • Despite the controversy surrounding his rocky relationship with Trump, House Speaker Paul Ryan (R-Wis.) fended off the opposition and held onto his seat in Wisconsin.
  • Having withstood a bruising primary battle, House Ways & Means Chairman Kevin Brady (R-Texas) sailed to general election victory in his district outside Dallas.
  • House Transportation & Infrastructure Committee Chairman Bill Shuster (R-Pa.), who through a strange turn of events faced the same challenger in the general election that he had in the primary, won reelection in the district that he and his father have consecutively represented for more than 40 years.
  • House Transportation & Infrastructure Committee member Lou Barletta (R-Pa.), a leading champion for infrastructure investment, won reelection in his northeastern Pennsylvania district.
  • Don Beyer (R-Va.), a business-minded Democrat and successful auto dealer, easily held onto his seat in northern Virginia, directly across the Potomac River from the nation’s capital.
  • House Ways & Means Oversight Subcommittee Chairman Peter Roskam (R-Ill.), who represents the Chicago suburbs will return to Congress after a strong election day showing.
  • House Ways & Means Committee Member Pat Meehan (R-Pa.), a leading member of the Republican Main Street Partnership, easily won reelection race to his seat in the Philadelphia suburbs.

A complete list of all the candidates supported by AED PAC this cycle is here: http://aednet.org/wp-content/uploads/2016/11/AED-PACRecipients-20161109.pdf

While our strategy was integral, the real story of this election season for AED has been the commitment of AED’s members. Our achievements were possible because dealers from across the country, particularly our next generation of leaders, stepped up the plate as never before and contributed a record-shattering $115,000 to AED PAC in 2016. Here’s a list of all our 2016 PAC donors:

2016 AED PAC CONTRIBUTORS
(received through 11/8/2016)

President’s Circle ($5,000)
Jamie Cowin, Cowin Equipment
Ed Kirby, Kirby-Smith Machinery
Whit Perryman/Vermeer Texas-Louisiana PAC ($7,500)
Mark Romer, James River Equipment
Donna Stephenson, Yancey Bros. Co.
Jim Stephenson, Yancey Bros. Co.
Wes Stowers, Stowers Machinery
Ken Taylor, Ohio CAT

Chairman’s Caucus ($2,500)
Diane Benck, West Side Tractor
Douglas Fabick, Fabick CAT
Dennis Heller, Stephenson Equipment
Roy Kern, Equipment Corporation of America
Dale Leppo, Leppo Rents/Bobcat of Akron
Joseph A. Paradis, III, BRAMCO
Donna Romer, James River Equipment
Dale Vaughn, OCT Equipment

Capitol Club ($1,000)
Ron Barlet, Bejac Corporation
Walter Berry, Berry Companies, Inc.
Ron Bjorklund, Vermeer North Atlantic
Michael Brennan, BRAMCO
Gary Bridwell, Ditch Witch of Oklahoma
Craig Burkert, ROMCO ($1,500)
Jonathan Campbell, Wheeler Machinery
Paul Campbell, Wheeler Machinery
Robert Campbell, Wheeler Machinery
Charles F. Clarkson, ROMCO ($1,500)
Robert Criste, Stephenson Equipment
Matt Dilorio, Ditch Witch Mid-States
Chris Gaylor, Power Equipment Co.
Chad Gerondale, Construction Machinery Industrial
Larry Glynn, CMW Equipment Co.
Robert Henderson, Associated Equipment Distributors
Gayle Humphries, JCB of Georgia
John Kimball, Kimball Equipment
Christian A. Klein, Obadal, Filler, MacLeod & Klein/AED
Dennis Kruepke, McCann Industries, Inc.
Patrick McConnell, Clyde/West
Brian McGuire, Associated Equipment Distributors
Steve Meadows, Berry Companies, Inc.
Robert G. Mullins, ROMCO ($1,500)
Chris Palmer, Wood’s CRW Corp.
Jim Parker, Carter Machinery
Giles Poulson, Faris Machinery
Michael Quirk, Wagner Equipment Co.
Clark Ricke, Federal Contracts Corp
John A. Riggs, Riggs CAT ($1,500)
Jay Rodes, Wilson Equipment Company
Jeffrey Scott, Intermountain Bobcat
Don Shilling, General Equipment & Supplies, Inc. ($2,000)
Mike Soley, Jr., Miller-Bradford & Risberg, Inc.
Stephen Stecklein, Washington Air Compressor
Curt Steffen, MacQueen Equipment
Denny Vander Molen, Vermeer MidSouth
Michael E. Walsh, Walsh Equipment Inc.
Tim Watters, Hoffman Equipment
Ed Weisiger, Jr., Carolina CAT
Charles R. Wood, Wood’s CRW Corp.
Karen Zajick, Norris Sales ($1,500)

Washington Team ($500)
Ryan Greenawalt, Alta Equipment Co.
Michael Lalonde, Westrax Machinery
Paul Liesem, Ohio CAT
Tim O’Bryan, Bobcat of Kansas City
Mike Paradis, BRAMCO
Jonathan Tarpey, Bobcat of Houston
Corey Vander Molen, Vermeer MidSouth
Cole Young, Bobcat of Dallas
John Shearer, 4Rivers Equipment

Emerging Leaders/Other ($250)
Kevin Barlet, Bejac Corporation
Fred Berry, Berry Companies, Inc.
Jonathan Berry, Berry Companies, Inc.
Jason Blake, Associated Equipment Distributors
Daniel Fisher, Obadal, Filler, MacLeod & Klein/AED
Michael Leppo, Leppo Rents/Bobcat of Akron
Bill Price, West Side Tractor
Bryce Puckett, Kirby-Smith Machinery
Jon Shilling, General Equipment & Supplies, Inc.
Charles Walsh, Walsh Equipment ($100)
Laura Wilkas, Monroe Tractor
J.D. Young, Kirby-Smith Machinery

 

As you might imagine, AED’s Washington team has been up poring over the election results and will be providing more observations and insights in the hours and days ahead. Thanks again for your commitment to AED and support for our advocacy program.

Sincerely,

whit-perryman

Whit Perryman
Vermeer Texas-Louisiana
2016 AED Chairman

« Page 1, 2, 3, 4 ... 107, »