Legislative Alert: Bipartisan Bills Would Fix Travel Trailer Floorplan Interest Deduction
U.S. Reps. Jackie Walorski (R-IN) and Stephanie Murphy (D-FL) have introduced the bipartisan Travel Trailer and Camper Tax Parity Act (H.R. 4349) to restore inventory financing interest deductibility for travel trailers.
Earlier this session, U.S. Senators Joni Ernst (R-IA) and Angus King (I-ME), both members of the Senate RV Caucus, introduced a Senate version of the bill (S. 1543) that would reinstate the full tax deductibility of RV floorplan loan interest for travel trailer dealers with annual sales in excess of $25 million.
The Travel Trailer and Camper Parity Act is strongly supported by RVDA and RVIA.
“The Travel Trailer and Camper Tax Parity Act will fix an unintended consequence of one provision that’s putting certain RVs at a disadvantage,” Rep. Walorski said. “Technical corrections like this are a normal part of the process when Congress enacts major reforms like the Tax Cuts and Jobs Act. This bipartisan, commonsense RV floor plan tax fix will provide certainty for small businesses and manufacturers, and it will ensure the RV industry can fully unlock the benefits of tax reform and keep our nation’s economic momentum going.”
RVDA will keep members updated on this legislation. To read Rep. Walorski’s statement on the bill, click here.
To contact your House member in Congress on this issue, click here. To contact your U.S. senator, click here.