Washington, March 18 -- Representative Blake Moore issued the following press release:
Representatives Blake Moore (R-UT) and Norma Torres (D-CA) introduced bipartisan legislation to increase access to floor plan financing deductions for semi-trailer dealers.
Current law provides exclusions for dealerships with motor vehicles, recreational trailers, and campers to fully deduct interest paid on floor plan financing, but doesn't extend to semi-trailers. This leaves dealers in a non-parity position with automobile, truck, and recreational trailer dealers despite their shared reliance on floor plan financing.
The Semi-Trailer Tax Parity Act extends the floor plan interest financing deductibility provisions to truck trailers, semi-trailer cha...