In a joint effort, the American Rental Association, Associated Equipment Distributors, Association of Equipment Manufacturers and the North American Equipment Dealers Association are urging for economic stimulus action from the United States Senate and House of Representatives.
Together, the industries these organizations represent are concerned with the sharp declines reported by the U.S. Department of Commerce in nonresidential investment, down 7.9 percent, and investment in equipment and software, which is down 5.5 percent on top of a 5.0 percent drop in the second quarter. The call for action includes passing a job creation and economic recovery package that includes both increases in federal infrastructure spending and extends for two years the capital investment incentives in the Economic Stimulus Act of 2008.
“The time to act is now to prevent further deterioration within the construction equipment industry,” said Christine Wehrman, ARA executive vice president and CEO of ARA. “This action is imperative to the future of an industry that affects so many jobs across America. As an active association that strives to meet the needs of our members, our vice president for government affairs, John McClelland, is working very closely with political leaders in Washington, DC to keep this legislation moving forward.”
ARA is an international trade organization that supports equipment rental business owners and rental equipment manufacturers and suppliers. It is headquartered in Moline, Ill.