Here in Minnesota, we just experienced our first blast of summer heat. What a change from just over a month ago when the ice was still coming off our northern lakes! If you also reside in a northern climate, the idiom “If you don’t like the weather, wait a few minutes…” rings true. After a long winter and a short spring, I was ready for summer!
So, too, was I ready for the ELFA Capitol Connections conference in Washington, D.C. last month. After a two-year hiatus, I really enjoyed getting back together with more than 110 equipment finance professionals from across the country to meet with members of Congress and administration officials. It was a great way both to enjoy the DC spring weather and to actively participate in our democracy.
This year, we focused on two major topics: 1) Dodd-Frank Act section 1071’s potential impact on finance companies and borrowers alike, and 2) the Tax Cuts and Jobs Act (TCJA) changes to the deductibility of business interest. As we provide nearly $1 trillion in capital investment across the United States, these issues are critical to not only the finance space but the entire US economy.
As a member of ELFA and the finance community at large, we at Tamarack try to stay in tune with economic, technology and regulation developments so we can advise customers on changes they can make as well as provide new products to help them stay agile. We have spoken quite a bit about technology trends recently, but these Capitol Hill matters can be even more important. Dodd-Frank 1071 appears to be one of those issues.
If you would like to learn more about Capitol Connections, please visit www.elfaonline.com or shoot me an email via dnelson@tamaracknow.com. I’d be glad to share my experience with you.
Happy 4th of July!
– Daniel Nelson, CEO, Tamarack