HARDI is among supporters of a bill passed Wednesday by a U.S. House committee.
The bill revises the U.S. tax code to change the expensing limits of some depreciable assets. The bill would include HVAC construction equipment.
The legislation was sponsored by Reps. Pat Tiberi (R-Ohio) and Ron Kind (D-Wis.)
“This bill shows a commitment by Congressmen Tiberi and Kind to support small business,” said Heating, Air-Conditioning and Refrigeration Distributors International President Bill Bergamini of Illco Inc. “Eliminating the exclusion of HVAC equipment provides distributors and the entire HVAC industry the opportunity to significantly grow their business, while helping other businesses achieve significant energy savings.”
Other HVAC market and HVAC sales associations HARDI said the bill include Air Conditioning Contractors of America, Air-Conditioning, Heating, and Refrigeration Institute, Mechanical Contractors Association of America, Plumbing-Heating-Cooling Contractors Association , and the Sheet Metal and Air Conditioning Contractors' National Association.
“(This bill) helps HARDI members and other small businesses by providing certainty in the tax code,” said HARDI CEO Talbot Gee.“For too long, our members have dealt with a patchwork tax code that limits investment. This important bill will allow HARDI members to better invest in their businesses, whether that is machinery or a technology upgrade.”