On June 10th and 11th, I joined over one hundred volunteers comprised of members and staffers of the Equipment Leasing and Finance Association engaged in what can be best described as a strategically orchestrated mission – to meet with lawmakers on Capitol Hill and deliver a unified message: The equipment finance industry is a vital and critical source of financing in the U.S. and contributes not only to businesses’ success, but also to economic growth and jobs.

I must confess I was apprehensive about partaking in Capitol Connections – after all, I have a publishing business to run and two days away from work is stressful. Sound familiar? But, now that I have attended and participated in this event, I understand the importance of taking an active role as a member of this industry more clearly than ever. And, I have gained an even greater level of respect for the people who not only volunteered their time to this event, but also their minds and hearts. Their passion for this industry can only be described as inspiring.

I embrace the art of observation – after all, it’s part of my job as a publisher. But in this case, I was more than an observer – I was also a participant. I joined professionals representing a cross-section of ELFA members including independent leasing companies, bank-owned leasing companies, service providers, and ELFA staffers – all united and ready to work towards ensuring the success of this industry. Assigned to teams – or what looked more like squadrons -- we met in the hotel lobby strategizing on how to approach our next “target,” and then moved into cabs to take our industry’s message to “The Hill”.  Some meetings were held in offices, and other times we met in hallways – bringing to life the term “Washington Hallway Conversations.” Regardless of how we delivered our messages to these lawmakers, the fact is, we delivered it. In most cases, our message was heard.

Our message for lawmakers…

• Congress should pass a tax extenders bill now – the uncertainty of the current tax code is causing a drag on the economy and we need a more comprehensive solution to be enacted as part of tax reform.
• Interest deductibility should be maintained during consideration of tax reform.
• Changes to deprecation rules should be carefully studied and considered as depreciation is a critical component of the tax code.
• Dodd-Frank (DFA, Section 1071) should be repealed or modified as it endangers anti-discriminatory processes and can potentially cause unintended harm to businesses. 

As Americans, we possess a Constitutional right to be heard, despite the fact that we often feel unheard. I was honored to participate in this process and commend the ELFA for organizing this forum for our industry’s collective voice to be heard. I also commend my friends and colleagues who volunteered their time to Capitol Connections in this effort to fight for the future of our industry. Much like Jefferson Smith said in the 1939 movie Mr. Smith Goes to Washington, “You think I'm licked. You all think I'm licked. Well, I'm not licked. And I'm going to stay right here and fight…”