Deductibility of Floor Plan Interest

NADA would like to say THANK YOU to all dealers and dealership employees who contacted their Member of Congress in support of NADA’s efforts on tax reform over the past several weeks. On Saturday, the Senate passed H.R. 1 including an amendment sponsored by Senator Rand Paul (R-Ky) which preserves 100% deductibility of interest on floor plan loans. Thanks to active dealer engagement across the country, both the House and Senate tax reform bills include nearly identical floor plan interest deductibility provisions. These bills will soon be considered by a House-Senate conference committee to reconcile their differences before both houses of Congress vote on final passage. NADA will keep dealers advised of any developments. Thank you again from NADA.

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