HARDI Issues Official Statement on Passage of Tax Reform Bill
Organization supports inclusion of HEAT Act, preservation of LIFO
COLUMBUS, Ohio — 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 toward a repeal of the estate tax.
“This new tax structure is going to give a big boost to HARDI members,” said Talbot Gee, CEO, HARDI. “Along with the tax cuts in this package, there are some great specific provisions for our industry, such as the 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 Palmer Schoening, vice president of government affairs, HARDI. "But, at the same time, the fight goes on even with this win. We aim to keep up pressure toward full estate tax repeal and trying to achieve permanence with these new rates going forward.”
Schoening is looking forward to leading the HARDI membership through this important upcoming midterm election year.
“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 voices heard in Washington."
For more information, visit www.hardinet.org.
Publication date: 12/20/17