The U.S. House of Representatives recently passed HR 636, America’s Small Business Tax Relief Act of 2015, which would revise Section 179 of the tax code to make the expanded expensing limits of certain depreciable assets permanent while adding HVAC equipment to the list for the first time.
The HVACR industry largely supports the bill as several industry organizations — including Heating, Air-conditioning, and Refrigeration Distributors International (HARDI); ACCA; Sheet Metal and Air Conditioning Contractors’ National Association (SMACNA); Air-Conditioning, Heating, and Refrigeration Institute (AHRI); Mechanical Contractors Association of America (MCAA); and Plumbing-Heating-Cooling Contractors Association (PHCC), among others — stated their support in a joint letter sent to members of Congress.