President Trump Is Visiting Pennsylvania Thursday to Highlight a Manufacturer Benefiting from Tax Reform

By January 17, 2018Shopfloor Main

(Photo Credit: H&K Equipment)

President Donald Trump is flying to Coraopolis, Pennsylvania, on Thursday to visit a local manufacturer and highlight the incredible early successes of the historic tax reform bill so far in 2018 and how the law will help manufacturers across the country.

The company, H&K Equipment, sells, rents and services lift trucks, container handlers, railcar movers, personnel carriers, yard trucks and industrial sweeping and scrubbing equipment and employs more than 200 people with international reach across six continents. H&K was founded in 1983 as a three-person outfit working out of a garage.

On Wednesday, White House Press Secretary Sarah Sanders highlighted H&K’s story during the daily press briefing and explained how the tax law, along with pro-growth policies, is helping the company:

2017 was the best year in company history, which they credit to the president’s pro-jobs, pro-worker, pro-growth economic agenda. Thanks to the passage of the Trump tax cuts, H&K will now be able to expense 100 percent of the investments they make in new equipment in the same year they buy it. According to H&K, this means their investments back into the company will be 50 percent higher than last year…

When they buy more trucks and equipment for their rental fleet, they hire more technicians to service them, buy more service vehicles to transport those techs from customer site to customer site and buy more parts from their suppliers to keep the rental fleet running. All of this economic activity spurred by the tax bill will result in more jobs, higher wages and a brighter future.

Pro-growth, pro-worker policies that help manufacturers expand and compete are critically important for the 566,000 manufacturing workers who call Pennsylvania home. These are high-paying jobs, with an average annual compensation of $72,500, and manufacturers in the state generated $85.13 billion in output in 2015.

Tax reform allows companies to expand, hire and reinvest back into their greatest asset: their employees. We have already heard exciting news of manufacturers like Melaleuca, AT&T, Boeing and Waste Management awarding bonuses and investing in their communities due to tax reform. As we move further into 2018, we expect to see more encouraging news of investment, expansion, hiring and job creation.

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