HARDI Applauds TIberi, Kind Bill to Promote Small Business Investment

HARDI's picture
Printer-friendly versionPrinter-friendly versionPDF versionPDF version

Columbus, Ohio- Heating, Air-Conditioning and Refrigeration Distributors International (HARDI) applauds the introduction and supports the passage of H.R. 4457, the Section 179d Permanency Act, which would make permanent small business expensing outlined in section 179d of the tax code and most importantly for the HVACR industry, repeal the exclusion of HVAC units from qualified expenses.

This bipartisan legislation, authored by Representative Pat Tiberi (R-OH) and co-sponsored by Representative Ron Kind (D-WI), would reinstate the levels effective during the 2010-2013 tax years, allowing taxpayers to expense up to $500,000 of investments in new equipment and property. The deduction will phase out after investments exceed $2 million.

Additionally, the legislation makes adjustments for inflation and repeals the $250,000 limit on real property for qualifying expenses.

HARDI Executive Vice-President and C.O.O. Talbot Gee stated, “We applaud the efforts of Congressmen Tiberi and Kind. Eliminating the exclusion of HVAC units from 179d provides distributors and the entire HVACR industry with significant opportunity to grow their businesses. Further, this legislation provides all small business owners with the type of certainty that is needed when they consider investments into their companies.”

Tiberi, chairman of the Ways and Means Subcommittee on Select Revenue Measures said in a joint statement, “While small business owners across the country take advantage of Section 179 small business expensing, the fluctuating rules surrounding the measure make it difficult to budget and plan. Representative Kind and I believe that by making the rules permanent, small business owners will have the stability and predictability they need to grow, expand, and create new jobs.”

“Employers want and deserve stability and predictability when it comes to tax planning,” said Rep. Kind. “This commonsense legislation will help small businesses meet their long-term financial goals, so they can continue to grow and hire new workers in Wisconsin and around the nation.”

H.R. 4457 was favorably reported on by the House Ways and Means Committee. 

HARDI is a trade association comprised of nearly 1,000 member companies, over 475 of which are U.S.–based wholesale companies. More than 80% of HARDI’s distributor members are classified as small businesses that collectively employ over 35,000 U.S. workers, representing over $30 billion in annual sales and an estimated 90% of the U.S. wholesale distribution market of HVACR equipment, supplies and controls.

For more information on HARDI Advocacy, contact Jon Melchi at jmelchi@hardinet.org  or check out the HARDI Advocacy page.

News Source : HARDI Applauds TIberi, Kind Bill to Promote Small Business Investment
Copy this html code to your website/blog to embed this press release.