Equipment dealers have been actively meeting with their elected officials driving home messages about infrastructure investment, tax policy and workforce development. The message on investment is direct: fund the programs Congress authorized in the historic legislation passed two years ago.
Here are the dealers’ messages on tax reform and workforce development, two critical issues facing equipment dealers:
• Support Tax Policy that Drives Job Creation and Growth
The strength in the nation’s pre-pandemic economy was due in large part due to pro-growth tax policies, incentivized capital investment and job creation. Provisions from the Tax Cuts & Jobs Act, including the reduced tax burden for job creating businesses, full expensing of new and used equipment purchases, and increased estate tax exemption levels, contributed to a robust economy. Congress must work to preserve these temporary capital investment incentives and make them a permanent part of the tax code to provide certainty for equipment dealers, manufacturers and their customers. Additionally, during a fragile economic recovery, lawmakers should refrain from raising taxes on family-owned businesses and such tax policies should be opposed.• Educate the Next Generation of Skilled, Technical Workers
The greatest challenge facing equipment dealers is the lack of skilled service technicians. Federal laws should be updated to reflect current workforce needs. Congress must also increase funding for the Carl D. Perkins Act and other programs that support providing skilled technical education opportunities while expanding access to loan and grant programs for individuals pursuing career and technical education programs. Additionally, lawmakers should create and expand tax benefits to incentivize individuals to pursue technical education and induce employers to reimburse such costs.