On January 27th, a bi-partisan group of 22 Members of the House of Representatives sent a letter to President Obama urging that LIFO repeal not be included in the Administration’s Fiscal Year 2013 Budget. On April 2nd, Jeffrey Zeints, Acting Director, Office of Management and Budget (OMB) responded to the Congressional letter on behalf of the Obama Administration supporting repeal of LIFO.
NAEDA and the LIFO Coalition, a coalition of more than 120 business organizations and trade associations, was provided a copy of both the letter to the President and the response on behalf of the President.
The Coalition has since prepared a detailed response to the points raised by OMB in their letter to Congress. A copy of that response to OMB can be found here.
For equipment dealers using LIFO, please feel free to use the coalition’s response to help educate your representatives and senators on the importance of LIFO for your dealership and employees. Opportunities to do so should present themselves over 4th of July recess when congress will be adjourned and in their home districts.