Associated Equipment Distributors

AED Vice Chair to Testify on Small Business Tax Reform Proposals

On April 10, AED Vice Chairman Tim Watters, president and CEO of Hoffman Equipment in Piscataway, N.J., will testify before the House Small Business Committee on behalf of the association. The hearing, “Small Business Tax Reform: Growth Through Simplicity,” is an opportunity for members of the committee to hear from several manufacturing and business service leaders on proposals designed to reform and simplify the tax code.

Watters will emphasize that the overly-complicated and anachronistic federal tax code is undermining economic growth. His testimony will draw from AED’s latest tax survey, which found equipment dealers’ top tax reform priorities are to protect the business deductions (especially business interest), cost recovery issues (e.g., preventing Congress from tampering with depreciation periods for construction equipment, Sec. 179 small business expensing, and the depreciation bonus), and identifying new user fees to support federal surface transportation investment. Watters will also discuss the need to reform the estate tax and hold equipment distributor rental income harmless from the new Obamacare investment income tax.

The hearing will be held at 1 p.m. EDT in 2360 Rayburn House Office Building. The hearing will be broadcast online. Click here to watch.

With the debate heating up, make sure your lawmakers know the equipment industry’s tax reform priorities by using the grassroots messaging tool.