Senator Rand Paul (R-Ky.) has introduced an amendment to restore the full deductibility of floor plan interest as included in the House bill. Passage of the Paul amendment would ensure that small business dealers aren’t penalized with higher taxes simply because they carry a high-cost inventory.
NADA strongly supports the Paul amendment and urges dealers to contact their Senators and ask them to support Senator Paul’s amendment.
Dealers should call their Senators, even if calls have already been placed, to urge support for the Paul amendment. Debates began today with amendments being voted on later today, and the final vote on passage on Friday. This amendment process will be the last chance to make changes to the Senate bill.
Thank you for taking action. Please send this link to your friends and colleagues, and urge them to contact their Senator as well: http://p2a.co/1LGrRby