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The North American Equipment Dealers Association (NAEDA) and its affiliated associations are committed to helping dealers succeed.
Health Care Legislation Passes Senate
A bill (H.R. 1624) waiving the federal health law’s insurance rules for tens of thousands of midsize businesses has cleared the Senate in a rare example of congressional agreement to undo part of the 2010 Affordable Care Act. The legislation had already passed the House, and the White House appears open to signing it. The Senate used a fast-track process that avoided an up-or-down vote on the measure, which would free companies with 51 to 100 workers from requirements on coverage standards and pricing. Dealers are encouraged to follow-up with their insurance provider once the bill is signed into law by the President if they fall within this group.
Fire Prevention Week - October 4-10
According to the National Fire Protection Association, U.S. municipal fire departments responded to an estimated 1,240,000 fires in 2013, which resulted in more than $11.5 billion in financial loss, injured more than 16,000 people, and killed more than 3,000. We at Federated Insurance have seen the results of this kind of devastation first-hand. And, what we find most alarming is that the vast majority of fires are avoidable. An in-depth study of Federated clients’ fire-related losses shows the leading causes to be:
* Spontaneous combustion of improperly stored, oil-soaked rags and other combustible materials
* Over-loaded electrical circuits and improper use of electrical cords and surge protection
* Careless smoking
* Improper storage of flammable liquids
Each of these fire risks can be avoided by following proper prevention steps. In recognition of Fire Prevention Week, October 4-10, 2015, Federated Insurance has created a short check list on inspecting facilities for major fire hazards. A copy of the check list can be reviewed here.
For more information on Federated's fire prevention information and other risk management programs, or to locate your local representative, visit www.federatedinsurance.com, or call 1-800-533-0472.
Trans-Pacific Partnership Trade Deal Is Reached
The United States, Japan and 10 other Pacific Rim nations on Monday reached final agreement on the largest regional trade accord in history, teeing up what could be the toughest fight President Obama will face in his final year in office: securing approval from Congress.
The conclusion of the Trans-Pacific Partnership, after years of negotiations and a series of sleepless nights here, was merely “an important first step,” conceded Michael B. Froman, the United States trade representative, as he and other weary officials announced their accord.
U.S. Agricultural Equipment Exports Decline 16 Percent
Exports of U.S.-made agricultural equipment dropped 16 percent for the first half of 2015 compared to the first half of 2014, for a total $4 billion shipped to global markets. Asia and Central America were in the plus column, while South America and Europe led the declines, according to U.S. Department of Commerce data AEM uses in global market reports for members. AEM
Dealer Protection Law in New Hampshire Supreme Court
A legal battle involving manufacturers of farm equipment and equipment dealers has reached the New Hampshire Supreme Court. It is the newest development in a dispute over a state law introduced in 2013.
USDA Monitoring Program Looks for Returning Bird Flu
A new monitoring program overseen by USDA’s Animal and Plant Health Inspection Service (APHIS) is up and running, and officials will use it to keep an eye on the potential spread of highly pathogenic avian influenza (HPAI) this fall. The plan is an interagency effort to collect samples from wildfowl to see if the disease is present in “apparently healthy birds,” primarily dabbling ducks like the American black duck, American green-winged teal, mallard, and Northern pintail. Samples are being obtained mostly through live capture or hunter-harvested birds, but samples are also being taken from other waterfowl as well as any dead birds that come to researchers’ attention.
GIE+EXPO Offers Mobile Application for 2015 Trade Show
App to Enhance the Experience of Attendees and is Available Now; Users Can Enter to Win $5,000 Just by Downloading and Logging Into the App
NAEDA's First National Election
The polling period for NAEDA’s first national election is over and we are extremely pleased with the level of participation. Thank you for taking the time to cast your vote as it is greatly appreciated! We are currently tabulating the results and anticipate announcing the winners by the end of the week. The voting process did present some challenges. Most importantly, it exposed a need to enhance our member database as we discovered incorrect contact names and/or email addresses. NAEDA staff worked directly with members and regional association executives to address each situation individually and as a result, every member who expressed an interest in voting should have been able to cast a vote. Regardless of the challenges encountered with this first effort, we remain confident in the results. We utilized every means possible to promote the election and each ballot was individually checked to confirm its validity. Every effort was taken to ensure the sanctity of this year’s election and each opportunity to improve the process for next year’s election will be implemented. Again, thank you for participating in NAEDA’s first national election and thank you for being a valued member of NAEDA!
NAEDA In Action: Your Help Needed!
NAEDA’s VP of Government Relations, Natalie Higgins, met with Representative Rod Blum’s (IA) office in early July to discuss Rep. Blum’s efforts to increase the de minimis safe harbor from $500 to $2,500 per invoice or item. Current IRS regulations provide a $5,000 de minimis safe harbor deduction for capital expenditures provided that the taxpayers maintain and file specific financial documents, typically an audited financial statement. Many of NAEDA’s members do not need to file the applicable financial statements given the structure of their businesses. For those businesses, the IRS only provides a de minimis safe harbor of only $500 per invoice or item. NAEDA does not believe that its members or it’s member’s customers should have to bear an unnecessary accounting burden simply to qualify for a more reasonable exemption. Such costs are clearly incurred to keep equipment in an ordinarily efficient operating condition.
Rep. Blum has now officially introduced his proposed bill as House Resolution 3318. In order for this bill to gain the momentum it needs to succeed, Rep. Blum needs other lawmakers join him and co-sponsor the bill. NAEDA members are encouraged to reach out to their own Representatives and ask them to co-sponsor H.R. 3800. Dealers are asked to raise this issue as you come into contact with their congressional member while they are on their August recess.
Need help getting connected to your legislators? Call or email Natalie Higgins to get more information; (636) 349-6206 or email@example.com.
NAEDA Issues Supporting Tax Legislation Letter
NAEDA in Action: Letter issued in support of proposed tax legislation which, if enacted, would allow taxpayers without certain financial statements to deduct up to $2,500 for equipment repairs.
Current IRS regulations provide a $5,000 de minimis safe harbor deduction for capital expenditures provided that the taxpayers maintain and file specific financial documents, typically an audited financial statement. Many of NAEDA’s members do not need to file the applicable financial statements given the structure of their businesses. For those businesses, the IRS only provides a de minimis safe harbor of only $500 per invoice or item. NAEDA does not believe that its members or it’s member’s customers should have to bear an unnecessary accounting burden simply to qualify for a more reasonable exemption. Such costs are clearly incurred to keep equipment in an ordinarily efficient operating condition.
NAEDA’s VP of Government Relations, Natalie Higgins, met with Representative Rod Blum’s (IA) office to discuss the measure earlier this month. After providing NAEDA’s feedback on the initial measure, NAEDA issued a letter in support of the proposed legislation. NAEDA’s letter expressed approval of Rep. Blum’s efforts to increase the de minimis safe harbor from $500 to $2,500 per invoice or item. For a full copy of the letter, click here.
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From the NAEDA Office
Equipment Dealer To Undergo Transformation
New magazine will debut this spring.
As a part of our ongoing effort to improve the value proposition for dealer members, the NAEDA Board of Directors recently decided to put Equipment Dealer magazine on a two- to three month hiatus while we work to expand the content and enhance the delivery of the publication. The “new and improved” magazine is a significant part of the associations’ ongoing communications initiative, which addresses our entire messaging platform – magazine, e-newsletter, web site, email and other key components.
Free Webinar to Watch on How to Achieve Greater Success in Hiring National Guard Members and Other Veterans