Contractors applaud tax cuts
SMACNA is among the groups praising the tax cuts signed into law by President Barack Obama late last year.
The $858 billion package, which extended tax cuts already in place for all Americans, added additional tax breaks designed to stimulate the nation’s still-fragile economy. The bill was signed by Obama Dec. 17.
The Sheet Metal and Air-Conditioning Contractors' National Association President Jim Boone said the group was mostly pleased with the package.
“The 2009 recovery act’s energy efficiency tax credits significantly helped improve SMACNA contractors’ cash flow and bottom lines,” Boone said. “Unfortunately, the 2011 tax credits included in recent tax-extender legislation will not be as robust nor last as long as the previous incentives.”
The final bill did not include several other items SMACNA had lobbied for, including investment tax credits for industrial retrofits, commercial efficiency retrofit incentives and rebates, and infrastructure bond programs to finance state and local building projects