Heating, Air-conditioning & Refrigeration Distributors International (HARDI) applauds the passage of the final version of the Tax Cuts and Jobs Act in both the House and Senate this week. HARDI is particularly pleased with the inclusion of the HEAT Act provisions, improvement on the treatment of pass-through entities, preservation of LIFO, and progress towards repeal of the estate tax.
"Plain and simple, this is a big win for HARDI members that has been a long time in the making," said Palmer Schoening, vice president of government affairs, HARDI.
Organization is particularly pleased with the inclusion of the HEAT Act provisions, improvement on the treatment of pass-through entities, preservation of LIFO, and progress toward a repeal of the estate tax.
The Air Conditioning Contractors of America (ACCA) applauded the House and Senate for passing the Tax Cuts and Jobs Act of 2017.
“This is an historic moment for HVAC contractors,” said Paul T. Stalknecht, ACCA president and CEO. “We fought for the past year to ensure that HVAC contractors would benefit from any tax reform legislation that was being considered in Congress. Today, we know that their tax rates are going to be lower and ACCA is proud to have led that fight on behalf of the contracting industry.”
Doug Dougherty, CEO, Geothermal Exchange Organization (GEO), is optimistic the credits will still be implemented in time for the start of 2018 -- even if they're left out of the conferenced tax reform bill.
While this marks a significant step toward achieving a goal of tax parity for geothermal heat pumps, this is not law yet, said GEO representatives in a press release.
U.S. Labor Secretary Alexander Acosta joined the National Association of Manufacturers (NAM) at Marlin Steel Wire Products in Baltimore Oct. 6 to tour the facility, meet with employees, and highlight the profound impact manufacturing has on the economy as part of Manufacturing Day. Secretary Acosta also spoke to participants about how tax reform will help small business across America.
Michael D. Bellaman, president and CEO of Associated Builders and Contractors Inc. (ABC), issued a statement supporting the Unified Framework for Fixing Our Broken Tax Code released by congressional and administration leaders.
The Plumbing-Heating-Cooling Contractors Association (PHCC) was part of a select group of plumbing, heating, and cooling industry representatives who participated in a Sept. 14 meeting at the White House and discussed the importance of tax reform, infrastructure needs, and, most importantly, workforce development.