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October 2014

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October 2014 | Construction Equipment Distribution | www.cedmag.com | 31 Election (continued on next page) How the U.S. House of Representatives Voted on Select Issues House Vote: 113-2-309, June 12, 2014 Senate Vote: None AED Position: Yes 7. Depreciation Bonus: To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation (H.R.4718) For nearly a decade, AED has been a leader in the fight to enact and expand bonus depreciation. With the capital investment incentive expiring at the end of 2013, AED supported H.R. 4718, which makes permanent 50 percent bonus depreciation. Approved by the House, 258-160, the major opposition to the proposal stems from its $300 billion ten-year price tag. Bonus Depreciation, along with Sec. 179 expensing, enjoy bipartisan support and have positively impacted the economy by incentivizing business purchasing and job creation. However, due to continuing economic uncertainty and slow recovery in certain sectors (e.g., construction), many businesses have not been able to take advantage of these laws. Similar to Sec. 179 expensing, Senate consideration of bonus depreciation will likely be delayed until after the midterm elections. House Vote: 113-2-404, July 11, 2014 Senate Vote: None AED Position: Yes 8. Water Resources Reform and Development Act of 2014 (H.R. 3080) In a year of minimal legislative accomplishments, infrastructure supporters cheered as Congress final- ized the Water Resources Reform & Development Act (WRRDA). The legislation authorizes Army Corps of Engineers programs, including waterway and watershed manage- ment projects such as construction of locks and dams, and adds flexibility to the Clean Water State Revolving Fund (CWSRF). It also includes a pilot program to leverage capital by attract- ing substantial private and nonfederal investments to water, wastewater, and water resources infrastructure projects. Provisions in the final bill will accelerate Corps project delivery by streamlin- ing environmental reviews, setting hard deadlines, and consolidating (or eliminating) duplicative studies. While WRRDA didn't contain any new investment, its passage by 412-4, was a great victory for infrastructure champions in Congress and demon- strated the bipartisan nature of such proposals. House Vote: 113-2-220, May 20, 2014 Senate Vote: 113-2-163, May 22, 2014 AED Position: Yes 9. Workforce Innovation and Opportunity Act (H.R. 803) One of the major long-term strategic threats to the construction equipment industry is the skilled worker shortage. Consequently, AED strongly supported the Workforce Innovation & Opportu- nity Act (H.R. 803), which eliminates duplicative workforce programs, streamlines many of the burdensome requirements that hamstring exist- ing outdated workforce systems and allows for increased incumbent worker training. Additionally, the legislation provides greater flexibility to state, local and regional boards to tailor services to specific employment needs. While the federal government should be doing more to address this economy-wide crisis, Congress has taken a step in the right direction by overhauling skilled worker programs and updating the Workforce Investment Act (WIA), which was enacted in 1998. The legislation, which was approved 415-6, reaffirms congressional commit- ment to ensure businesses have the next generation of skilled workers. House Vote: 113-2-378, July 9, 2014 Senate Vote: 113-2-214, June 25, 2014 AED Position: Yes 10. Keep the Federal Highway Program Operating: Highway and Transportation Funding Act of 2014 (H.R. 5021) AED spent most of 2013 and 2014 ring- ing the alarm bells about the looming Highway Trust Fund (HTF) shortfall, which jeopardized more than $50 billion in annual investment. AED esti- mated "year zero" would endanger at least $2.4 billion in equipment market activity (i.e., dealer revenue from sales, rental, and product support) and close to 4,000 equipment dealership jobs. While not a long-term solution, AED supported enactment of H.R. 5021 to ensure the HTF's solvency through May 31, 2015. The 367-55 vote, demonstrated that AED's warnings were heeded and lawmakers recog- nized the importance of ensuring the HTF didn't go broke in the near-term. House Vote: 113-2-414, July 15, 2014 Senate Vote: 113-2-248, July 29, 2014 AED Position: Yes Key Symbols Y: Agreed with AED's Position N: Disagreed with AED's Position P Voted Present NV Did Not Vote "-" Unavailable for vote * The House Speaker does not usually vote unless the margin for passage is extremely close Score % agreement with AED's position Highlighting denotes perfect AED score. Vote numbers (across the top): 1. Keystone: Northern Route Approval Act (H.R. 3) 2. Natural Gas Pipeline Permitting Reform Act (H.R. 1900) 3. Prevent a Shutdown: Continuing Appropriations Resolution (H.J. Res. 59) 4. Prevent a Shutdown: Consolidated Appropriations Act (H.R. 3547) 5. The Farm Bill: Agriculture Act of 2014 (H.R. 2642) 6. Section 179: America's Small Business Tax Relief Act of 2014 (H.R. 4457) 7. Depreciation Bonus: To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation (H.R.4718) 8. Water Resources Reform and Development Act of 2014 (H.R. 3080) 9. Workforce Innovation and Opportunity Act (H.R. 803) 10. Keep the Federal Highway Program Operating: Highway and Transportation Funding Act of 2014 (H.R. 5021)

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