'...this legislation will help RV travel trailer dealers stay competitive, drive industry growth, and support the millions of Americans who embrace RV travel as a way of life.'
Congressman Rudy Yakym (IN-02) and Congresswoman Dina Titus (NV-01) on Monday reintroduced the Travel Trailer and Camper Tax Parity Act, legislation they also introduced in the 118th Congress. The bill makes a technical fix to the 2017 Tax Cuts and Jobs Act so that RV dealers can fully deduct the interest on their floor plan financing for all the RVs they sell, including non-motorized towable trailers, which account for 88% of RV sales.
“Indiana's Second District is the home of the 'RV Capital of the World,' an essential part of our local economy,” Yakym said. “I am proud to reintroduce this sensible and bipartisan legislative solution along with Congresswoman Titus that will support the continued growth of the RV industry and ensure Americans can enjoy the natural beauty of our nation through RV travel and outdoor adventures for generations to come.”
"Many families and tourists across the country find the best way to explore our nation’s national parks and beautiful natural landscapes is from an RV,” Titus said. “This bipartisan legislation would help RVs stay competitive with other elements of the recreation industry and allow even more people to explore our country in this unique way.”
"We applaud Representatives Yakym and Titus for their leadership in reintroducing the Travel Trailer and Camper Tax Parity legislation," RV Industry Association President & CEO Craig Kirby said. "This essential bill addresses a long-standing issue impacting RV dealerships by correcting a drafting error that impacts only towable RVs and has created unnecessary and unintended financial strain not faced by other similar industries. By ensuring dealers can fully deduct the interest on their floor plan financing for all units, this legislation will help RV travel trailer dealers stay competitive, drive industry growth, and support the millions of Americans who embrace RV travel as a way of life. We strongly encourage Congress to act quickly and pass this important legislation to secure the continued success of the all-American RV industry."
Full text of the legislation can be found here.
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