Construction Industry Associations AEM & ABC Support Tax Reform Framework

Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement in response to the tax reform framework released on Wednesday by members of Congress:

AEM members support a simpler tax code that provides relief to both conventional corporations and “pass-through” businesses, a designation which includes a number of equipment manufacturers and their customers.

The unified tax reform framework released today by leaders in Congress goes great lengths toward meeting AEM members’ goals. Equipment manufacturers currently suffer from a tax code that puts U.S. manufacturers at a disadvantage versus our global competitors. Our industry stands with those in Congress who propose commonsense, permanent tax relief that will renew America’s manufacturing strength.

The current debate over tax reform is a moment of truth for our elected leaders. We will work in the coming months to encourage members of Congress in both parties to deliver on their pledge to advance pro-growth tax reform that supports manufacturing in America.

NOTE: AEM will be releasing the findings from a more detailed tax reform research project in the coming weeks, along with new advertising and grassroots advocacy efforts intended to help advance the industry’s priorities for tax reform.

Tax Reform Framework a Major Step Forward, Says ABC

Michael D. Bellaman, President, and CEO of Associated Builders and Contractors (ABC), issued the following statement supporting the Unified Framework for Fixing Our Broken Tax Code released today by congressional and administration leaders: “The tax framework released today marks a promising step forward for the first genuine reform of the tax code in a generation. Associated Builders and Contractors is encouraged by the proposal, and we strongly support the tax reform process moving forward. “The framework and its targets go a long way toward advancing ABC’s tax policy goals. Construction historically faces the highest effective tax burden of any industry. The vast majority of construction firms are small and family-owned businesses that pay taxes at individual rates. The equivalent rate reduction envisioned in the framework for businesses on both sides of the code, paired with a broader tax base, moves toward ABC’s vision of fair treatment for all companies regardless of size, structure or sector. “While the framework is an important first step, there is much work to be done. Before this process can move forward, Congress must pass a budget resolution that instructs tax writers to turn this framework into legislative language. With so much left to the discretion of the committees, there is little time to spare. We look forward to working with both chambers to build on the structure of this framework in a way that promotes simplicity, fairness and economic growth.”