Local business benefits from President Trump tax plan

Photo+credit%3A+Gage+Goulding
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Local business benefits from President Trump tax plan

Photo credit: Gage Goulding

Photo credit: Gage Goulding

Photo credit: Gage Goulding

Photo credit: Gage Goulding

Malyk Johnson

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President Donald Trump gave a speech at H&K Equipment on Jan. 18 in Coraopolis. He discussed the benefits that local businesses in the area have seen as a result of a tax reform, which was passed in December of last year. During the speech, he also discussed national companies that have also benefited from the reform.

H&K Equipment was founded in 1983. The company rents out manufacturing equipment to other companies. H&K Equipment began with only three employees but has grown to employ over 200 people.

As part of the president’s tax reform, the bonus depreciation rate was raised from 50 percent to 100 percent. Companies like H&K Equipment used the extra money they received to reinvest in their rental fleet, and the money the company saved is also passed along to their employees.

“I actually went and looked at the numbers a couple weeks ago with our CFO, and on average the savings for most of our guys on the floor between two to $3,000 a year,” said Peter Cicero, the vice president and co-owner of H&K equipment. “That’s a lot of money to these guys. It’s money for the kids, it’s a vacation such as the one gentleman who is going to see his grandparents down in Florida.”

Kenny Wilson, who works at H&K Equipment as a manager, was brought up during the president’s speech. Wilson knew that President Trump would be referencing his bonus during his speech, but was not aware that the president would invite him on the stage to speak.

“They prepped me ahead of time that they would use my name, my situation per se, and I talked to the White House. They wanted to make sure I was okay with it,” said Wilson. “But when he called me up, I was not expecting that at all. It was a big shock. When the man tells you to come up, you go up and talk to him.”

Wilson received a bonus due to the money that H&K Equipment was able to save due to the cut.

“Anybody would like to have more money in their pocket. I just happened to fit in a favorable position to be chosen,” said Wilson. “I mean, it’s a welcome surprise. It’ll go right to the college funds.”

H&K Equipment expects that the money that they have saved due to the reform will continue to benefit their employees.

For more on H&K Equipment, visit their website.

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