As the Tax Cuts and Jobs Act provisions begin to take shape, President Donald Trump celebrated small business success by visiting Pittsburgh-based NFIB member H&K Equipment on Thursday, Jan. 18.
Trump’s visit included a tour of the facility and a speech about the new tax act.
Departing Pittsburgh now, where it was my great honor to stand with our incredible workers, and to show the world that AMERICA is back – and we are coming back bigger and better and stronger than ever before! pic.twitter.com/kWPgylqFzj
— Donald J. Trump (@realDonaldTrump) January 18, 2018
Founded in 1983, H&K Equipment oversees multiple companies that employ over 200 people in eight facilities across two states.
“I think it’s very valuable to the economy. …If we pay less taxes it puts more money into the business,” says H&K Equipment co-founder George Koch. “We’ll probably purchase more capital equipment because of the tax cut.”
The law’s provision for immediate expensing—100 percent in the first year—allows H&K Equipment to reinvest money in equipment for its rental fleet.
“We were extremely excited to host the event,” Koch says. “It was excellent. There were 700 people there. [Trump] gave a great speech. He was very warm and engaging and an easy person to talk to. …We are very proud to have hosted the President of the United States. It doesn’t get better than that.”
While speaking, Trump brought H&K Equipment Project Foreman Ken Wilson on stage and informed him that he would save almost $2,200 in income taxes this year.
“I think it’s great if somebody like me gets that kind of opportunity to have that kind of savings,” Wilson said on Friday morning’s Fox & Friends. “It’ll go a long way throughout the year. With my daughter getting ready to graduate high school in a year, I got to start thinking about the future for her. He’s made a believer out of me.”
— NFIB Pennsylvania (@nfib_pa) January 19, 2018
The hour-and-a-half visit has had a lasting effect on H&K Equipment’s leadership.
“We are very fortunate to be called on by the White House for the use of our facility,” H&K Equipment General Manager Patrick Koch says. “It was an excellent event for our company and our region.”
NFIB wants to hear from you! Has the new federal tax reform law enabled you to purchase new equipment or expand? Let us know how your business is experiencing tax relief >>