Congress Approves First Major Tax Code Rewrite in Decades

AED’s President and CEO Brian P. McGuire issued the following statement after congressional approval of the Tax Cuts and Jobs Act:

“Every major piece of legislation will have some positives and some negatives. The Tax Cuts & Jobs Act is no different. While AED didn’t get everything we wanted, I have no doubt that had we not been at the table throughout the process the industry would be in a far worse position.

“The tax reform process isn’t over. The Tax Cuts & Jobs Act will need to be refined, and many important provisions are temporary. The administration will be issuing guidance on many aspects of the new law in the coming year. AED will remain engaged, but it’s important that construction equipment dealers also continue to be involved. As this process has shown, there’s too much at stake not to advocate for your company and your industry.”

To review the final Tax Cuts and Jobs Act conference report visit: docs.house.gov/billsthisweek/20171218/CRPT-115HRPT-466.pdf

To see highlights of the new law for the construction equipment industry visit: aednet.org/aed-alert-final-tax-conference-committee-agreement-released/

To view AED’s letter of support for the Tax Cuts and Jobs Act visit: aednet.org/wp-content/uploads/2017/12/AED-TaxCutsJobsActSupport.pdf