The National Trailer Dealers Association and the RV Industry Association are working together to allow dealers to fully deduct interest on inventory held for sale.
The Travel Trailer and Camper Tax Parity Act bill has nine co-sponsors, NTDA says in a release on Tuesday. The organization formed the Commercial Semi-trailer Political Action Committee (PAC) in November to advocate for issues that affect the industry, including taxes, tariffs, trade or other regulations.
[RELATED: Doing the math on trailer market capacity, growth potential]
The PAC's first target is allowing the industry to be able to deduct interest on inventory held for sale, much like car, truck, boat and farm equipment dealers are able to do. These dealerships can deduct 100% of the interest expense to finance new and used inventory. Trailer dealers are capped at 30%.
"This results in a situation where a trailer dealer could have a loss and still have to pay taxes, which seems unfair to us," the statement says.
NTDA President Gwen Brown says the group is still looking for legislative support, particularly with these members of the House Ways & Means Committee and Senate Finance Committee:
- Rep. Jason Smith, R-Mo.
- Rep. Vern Buchanan, R-Fla.
- Rep. Adrian Smith, R-Neb.
- Rep. Mike Kelly, R-Penn.
- Rep. David Schweikert, R-Ariz.
- Rep. Darin LaHood, R-Ill.
- Rep. Jodey Arrington, R-Texas.
- Rep. Ron Estes, R-Kan.
- Rep. Lloyd Smucker, R-Penn.
- Rep. Kevin Hern, R-Okla.
- Rep. Carol Miller, R-W.Va.
- Rep. Greg Murphy, R-N.C.
- Rep. David Kustoff, R-Tenn.
- Rep. Brian Fitzpatrick, R-Penn.
- Rep. Greg Steube, R-Fla.
- Rep. Michelle Fischbach, R-Minn.
- Rep. Blake Moore, R-Utah.
- Rep. Michelle Steel, R-Calif.
- Rep. Beth Van Duyne, R-Texas.
- Rep. Randy Feenstra, R-Iowa.
- Rep. Nicole Malliotakis, R-N.Y.
- Rep. Mike Carey, R-Ohio.
- Rep. Richard Neal, D-Mass.
- Rep. Lloyd Doggett, D-Texas.
- Rep. Mike Thompson, D-Calif.
- Rep. John Larson, D-Conn.
- Rep. Danny Davis, D-Ill.
- Rep. Linda Sanchez, D-Calif.
- Rep. Terri Sewell, R-Ala.
- Rep. Suzan DelBene, D-Wash.
- Rep. Judy Chu, D-Calif.
- Rep. Gwen Moore, D-Wis.
- Rep. Donald Beyer, D-Va.
- Rep. Dwight Evans, D-Penn.
- Rep. Brad Schneider, D-Ill.
- Rep. Jimmy Panetta, D-Calif.
- Sen. Michael Crapo, R-Idaho.
- Sen. Charles Grassley, R-Iowa.
- Sen. John Cornyn, R-Texas.
- Sen. John Thune, R-S.D.
- Sen. Tim Scott, R-S.C.
- Sen. Bill Cassidy, R-La.
- Sen. James Lankford, R-Okla.
- Sen. Steve Daines, R-Mont.
- Sen. Todd Young, R-Ind.
- Sen. John Barrasso, R-Wyo.
- Sen. Ron Johnson, R-Wis.
- Sen. Thom Tillis, R-N.C.
- Sen. Marsha Blackburn, R-Tenn.
- Sen. Ron Wyden, D-Ore.
- Sen. Maria Cantwell, D-Wash.
- Sen. Michael Bennet, D-Colo.
- Sen. Mark Warner, D-Va.
- Sen. Sheldon Whitehouse, D-R.I.
- Sen. Maggie Hassan, D-N.H.
- Sen. Catherine Cortez Masto, D-Nev.
- Sen. Elizabeth Warren, D-Mass.
