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.
“This new tax structure is going to give a big boost to HARDI members,” says HARDI CEO Talbot Gee. “Along with the tax cuts in this package, there are some great specific provisions for our industry, such as full, immediate expensing of qualified HVAC equipment.”
"Plain and simple, this is a big win for HARDI members that has been a long time in the making," said HARDI vice president of government affairs, Palmer Schoening. "But at the same time, the fight goes on even with this win. We aim to keep up pressure towards full estate tax repeal and trying to achieve permanence with these new rates going forward."
"We look forward to leading the HARDI membership through this important upcoming midterm election year," Schoening continues. "Our next Congressional Fly-in this May will be a crucial one, and we encourage HARDI members to continue staying engaged with their representatives and making their voice heard in Washington."
Publication date: 12/21/2017