AEM Disappointed in Senate’s Tax Vote Failure

(WASHINGTON, D.C.) - Association of Equipment Manufacturers Senior Vice President of Government and Industry Relations Kip Eideberg issued the following statement following the failure of the Senate cloture vote on the Tax Relief for American Families and Workers Act.  

“The Association of Equipment Manufacturers is disappointed that the Senate failed to advance the Tax Relief for American Families and Workers, which would have restored three pro-growth tax provisions that are critical to the long-term economic growth of the industry. Today’s failure ensures that R&D and investments in new equipment, machinery, and technology are significantly more costly for American equipment manufacturers, stifling innovation and creating significant new costs—all while putting thousands of jobs in jeopardy. At a time when our global competitors aggressively pursue policies that offer generous preferential tax treatments, we are forced to compete with one hand tied behind our backs. We urge the Senate to set aside petty politics, follow the lead of their colleagues in the House, and swiftly restore these provisions. The cost of inaction is too high.” 

AEM is the North America-based international trade group representing off-road equipment manufacturers and suppliers with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 2.3 million jobs and contributes roughly $316 billion to the economy every year.