Steel Mills
HARDI Applauds House Passage of Small Business Tax Relief Act
Written by Sandy Williams
June 18, 2014
HVAC construction equipment won a victory in the passage of “America’s Small Business Tax Relief Act of 2014.” The House approved the bill that previously excluded HVAC equipment from qualified business deductions.
Under the amendments to the bill, business owners can expense up to $500,000 in new equipment and property, including HVAC equipment. The bill restores the 500,000 cap after it was reduced to $25,000 January 1, 2014. The cap is not only restored but would make it retroactive to January 1 and permanent.
The deduction, intended to help small businesses, phases out when investments exceed $2 million. It also eliminates the $250,000 maximum on real property for qualifying expenses.
“We applaud the efforts of Congressmen Tiberi and Kind,” said Talbot Gee, executive vice president and chief executive officer of the Heating, Air Conditioning and Refrigeration Distributors International (HARDI). “Eliminating the exclusion of HVAC units from (tax code section) 179D provides distributors and the entire HVACR industry with significant opportunity to grow their businesses. Further, this legislation provides all small business owners with the type of certainty that is needed when they consider investments into their companies.”
The victory may be short lived, however, because the Senate and White House do not support the new provisions and the bill is not likely to pass a Senate vote.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
AISI outlines key issues for steel to Trump admin
The American Iron and Steel Institute (AISI) has reached out to the Trump administration, as well as some members of Congress, to present a blueprint of issues that are top of mind for steel producers. “2025 presents an opportunity for the new administration and Congress to take a holistic look at the key issues impacting […]
Algoma to shut down line in Ontario ahead of EAF start
The 106” Mill was part of Algoma's plate and strip combination facility.
Nippon trial vs. US government to begin early next month: Report
Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]
Nucor carbon targets certified by GSCC
Nucor’s “ambitious” carbon targets by the end of the decade and beyond have been certified by the Global Steel Climate Council (GSCC). The Charlotte, N.C.-based steelmaker used a base year of 2023 for its science-based emissions targets (SBET). It set an SBET of 0.975 metric tons (mt) of CO2 emissions per mt of hot-rolled steel […]
SSAB halts talks with Feds on Miss. green steel plant
The Department of Energy's Industrial Demonstrations Program page states that it is no longer moving forward with SSAB.