Tell Your Congress Members to Fix the Tax Floor Plan
It is critical that you take action immediately and tell Congress to restore the floor plan deductibility in this week’s Continuing Resolution (CR). Please click the link below to send an email to your Members of Congress. You will also have the option to make a phone call to your members after you send the email. When you make the phone call, ask to speak to the member of Congress, if they are not available, ask to speak to the Chief of Staff.
Last year’s tax reform bill provided much needed relief for small businesses; however, a last minute definition change in one section of the bill unintentionally resulted in effectively removing travel trailers from the definition of “motor vehicle” for the purposes of floor plan financing interest deductibility. Made during the House-Senate conference, this change unintentionally disadvantaged the RV travel trailer industry, by limiting the deductibility of the RV trailer dealer’s floor-plan costs.
Legislation to correct this unintended oversight, the Travel Trailer and Camper Technical Corrections Act, has been included in Chairman Brady’s year-end tax bill, H.R. 88, as Section 504. Please contact your Members of Congress today and ask them to offer an amendment to add this important provision to the Continuing Resolution and bring some critically needed clarity to this issue for RV dealers.