The American Rental Association Urges Leaders to Consider New Stimulus PackageTuesday, November 11, 2008
WASHINGTON, D.C. – In a joint effort, the American Rental Association (ARA), Associated Equipment Distributors (AED), Association of Equipment Manufacturers (AEM) and the North American Equipment Dealers Association are urging for 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 Q2. 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 (ES) of 2008.
“The time to act is now to prevent further deterioration within the construction equipment industry. This action is imperative to the future of an industry that affects so many jobs across America,” said Christine Wehrman, ARA executive vice president and CEO of ARA. “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.”
The American Rental Association (www.ARARental.org) is an international trade organization that supports equipment rental business owners and rental equipment manufacturers and suppliers, and is known as the global leader for the industry. ARA is the source for research, information, government affairs, business development tools, education and training, insurance, networking and marketplace opportunities for the equipment rental industry throughout the world. Members of the association include more than 7,500 equipment rental businesses and 1,100 manufacturers and suppliers. As the industry’s primary information resource, ARA is committed to providing the most comprehensive research on the state of the North American equipment rental market. The North American equipment rental industry revenue is approximately $42.3 billion.