Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement after the Senate approved the conference report for the Tax Cuts and Jobs Act, sending it to the White House for President Trump's signature:
"The equipment manufacturing industry applauds the Senate for delivering on its promise to overhaul our outdated, uncompetitive tax code. The passage of the Tax Cuts and Jobs Act will make equipment manufacturers more competitive, while creating more opportunity for millions of Americans. Equipment manufacturers are heartened that this legislation now heads to the White House for President Trump's signature.
"Tax reform is a huge win for equipment manufacturers of virtually every type and their employees. When equipment manufacturers succeed, they can play a bigger role in growing the economy and helping Americans thrive. The bill passed today will encourage equipment manufacturers large and small to hire new workers, expand facilities, and purchase new equipment; the legislation will also put U.S. equipment manufacturers on a level playing field with the rest of the world.
"There are many leaders in the Senate who deserve credit for working diligently to bring this historic legislation across the finish line. Senate Majority Leader McConnell and Chairman Hatch led the effort to make the long-held goal of comprehensive tax reform that will power a growing economy for years to come. Still many more Senators deserve the gratitude of the 1.3 million men and women of the equipment manufacturing industry for helping make pro-growth, pro-jobs tax reform a reality.
"Our industry will continue to seek improvements and reforms to our nation’s tax code in order to make the United States the most competitive place for equipment manufacturers. Nonetheless, the bill passed today is a once-in-a-generation accomplishment that the Senate should be proud of. Equipment manufacturers look forward to President Trump’s signature on this legislation before the end of the year."