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President Obama last week sent to Congressional Republicans a "fiscal cliff" proposal that included $1.6 trillion in new taxes. In addition to the increase in the top marginal income tax rates on which the President is most insistent, his offer also calls for repeal of LIFO (last-in, first-out). This is not a surprise since repeal has been in each of his budget proposals and his proposal to the Speaker is very close to his budget proposal.
NAEDA would like to compile more specific information related to a repeal of LIFO and its impact on equipment dealers. Your responses will provide useful data on the types of business decisions that may result from Federal tax policy. As always your responses are totally confidential.
Please click on the link to participate in this important survey.
Congress has just returned from their Easter recess break to take up the matters of the country. There are a couple of items we thought you should be aware of that will be taking place over the next few weeks and months.