ASA Leads Members on Capitol Hill

On March 21, ASA partnered with Affiliated Distributors to bring nearly 250 distributors and manufacturers, attending AD’s PHCP Spring Network Meeting, to lobby roughly 85 members of Congress in Washington on critical issues facing the PHCP, PVF and HVAC industries.

One vital area of concern to the attendees was the extension of the Tax Cuts and Jobs Act (TCJA) which reduced the top corporate income tax rate from 35% to 21%. Its 199A small business deduction also cuts taxes for pass through businesses. Under current law, the 20 percent tax deduction for qualified business income is set to expire in 2025.

Keeping lower taxable income rates to help corporate and pass-through businesses prosper is a priority for our industry.  Many of our members are owners of multi-generational family businesses and the industry has seen consolidation in recent years, due to the massive compliance costs imposed by the estate tax and difficulty passing operations to the next generation.

According to Rep. Rudy Yakym (IN-2), who addressed the attendees, said that this year’s national election will be pivotal to extending the tax cuts set to expire at the end of 2025.  He also discussed an effort to change the dialogue from the estate tax being a benefit for the rich, to an effort to protect local jobs, as family-owned businesses can transfer businesses and jobs to the next generation rather than selling to corporations and private equity who will strip down local businesses.

Regulatory reform was another area of concern on which attendees lobbied. In particular, the REINS Act - requiring Congress to take an up or down vote and for the President to sign-off on all new major rules before they can be enforced on the American people. Major rules are those that have an annual economic impact of $100 million or more. According to George Washington University’s Regulatory Studies Center, in 2023, 80 major rules were finalized by the Executive Branch.

“While ASA engages full time in advancing the interests of our industry, bringing large groups of our members and prospective members, like the AD meeting in Washington, helps us move the needle. We applaud their willingness to hold their meeting in DC and help us educate Congress on industry issues and concerns,” ASA CEO Mike Adelizzi said.