Record-breaking small business optimism leads to surge in investment, growth, and hiring.
HARRISBURG (Jan. 18, 2018) – President Donald Trump today visited H and K Equipment, an NFIB member business in Pittsburgh that plans significant investments in new equipment because of federal tax reform. The new tax law signed by President Trump in December has sent NFIB’s Small Business Optimism Survey soaring to a record-breaking high.
“With a massive tax cut this year, accompanied by significant regulatory relief at the federal level, we expect very strong growth, millions more jobs, and higher pay for Americans,” said NFIB President and CEO Juanita Duggan.
New full expensing rules included in the Tax Cuts and Jobs Act of 2017 are prompting H and K Equipment to invest 50 percent more back into the company this year. For over 75 years the Pittsburgh business has been supplying and servicing industrial equipment, and it employs over 200 people in eight facilities across two states.
“After years of a stagnant economy, H and K Equipment, like many other small, privately owned businesses, see this as a fantastic time for expansion,” said Kevin Shivers, executive state director for NFIB Pennsylvania. “We applaud our federal elected officials from Pennsylvania who voted in favor of tax reform and President Trump for signing the bill.”
The White House said, when NFIB recommended H and K Equipment as a possible location for the President’s visit, that it was chosen because it provides a snapshot of what is happening all over the country.