Washington, D.C. - Associated Equipment Distributors (AED) President & CEO Brian McGuire issued the following statement today in response to the Obama administration’s FY 2015 budget proposal:
“We’re pleased the President is emphasizing much-needed infrastructure investment and project delivery streamlining, but he’s once again missed the opportunity to provide bold leadership and propose the new user fees everyone agrees are necessary to reestablish the federal Highway Trust Fund’s long-term fiscal integrity. AED will support any viable proposal to solve the FY 2015 HTF crisis, but with the clock running down to the program’s collapse this summer, it’s irresponsible for the President to continue to suggest that the Fund can be made whole now through a tax reform bill that has virtually no chance of getting done in 2014.
“We’re also extremely disappointed that the President’s budget doesn’t include a specific request for the new customs facility associated with the Detroit-Windsor bridge project. The new bridge is critical to both the U.S. and Canadian economies. Given that Canada has agreed to foot the bill for most of the $2.1 billion project, the administration’s failure to make the customs facility a budget priority is a major missed opportunity.
“Finally, the president has again proposed repealing LIFO, a long-standing accounting method used by inventory-intensive small businesses like equipment distributors, as well a host of other tax provisions that encourage capital investment throughout the economy. His tax agenda is squarely at odds with the broader stated goal of encouraging economic growth and job creation.
“In the weeks ahead, AED will be working to educate Congress and the administration about our concerns. We look forward to working with all parties to enact meaningful legislation this year to restore some semblance of economic certainty for our members and their customers.”
AED is an international trade association representing companies involved in the distribution, rental, and support of equipment used in construction, mining, energy, forestry, power generation, agriculture, and industrial applications. More information is available at www.aednet.org.