This critical amendment was more than just another tax issue to us. The floor plan loan is the economic cornerstone of the franchised dealership.
Early Saturday morning, the Senate passed the “Tax Cuts and Jobs Act,” (H.R. 1) which included a NADA-supported amendment to preserve 100 percent deductibility of interest on floor plan loans (a specialized loan that funds vehicle inventory).
Senators need to hear directly from YOU about the importance of floor plan financing to your business. Call your Republican Senators and ask them to cosponsor Senator Rand Paul’s amendment to ensure floor plan interest remains fully deductible.
More than 400 new-car and truck dealers and dealer association executives from across the country traveled to the nation’s capital this week urging lawmakers to implement pro-growth tax reform.
ATD hosted a successful third annual legislative fly-in that brought commercial truck dealers from around the country to our nation’s capital to fight for the truck industry.
Congressional support for H.R. 2946 – a bill that would repeal the federal excise tax (FET) on the retail sale of most heavy-duty trucks, tractors and trailers – is gaining traction on Capitol Hill.
Rep. Doug LaMalfa (R-Calif.) introduced legislation in Congress Tuesday to repeal a burdensome federal excise tax (FET) on heavy-duty trucks originally imposed in 1917 to help defray the cost of World War I.