Automotive

Senate Urges Tax Relief For Dealerships

Who ever said NADA just throws parties?
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Senate Urges Tax Relief For Dealerships

No dealership is an island. Often the experience of a single store can send ripples through the entire industry. Decisions at state and federal levels are sometimes made without much thought to the specific impact they will have on dealerships and the communities they serve. Organizations like the National Automobile Dealers Association (NADA) connect dealerships and represent their interests to lawmakers. Sometimes in landmark events, and other times working below the surface, keeping the tide turning.  

Speaking of work. Lobbied by NADA and the Alliance for Automotive Innovation, Senate Democrats introduced a bipartisan bill to provide tax relief to auto dealers who Last In First Out (LIFO). The bill would allow dealers to defer tax payments until 2025, when inventory levels should stabilize. Treasury Secretary Janet Yellen has not indicated support for the bill, but Congressman Dan Kildee says he does not think the Treasury Department is antagonistic to the plan.

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