Latest industry Trends Watch:
Spader Online Services
Advertise with NAEDA > >
As you probably know, after the August Congressional recess, Ways and Means Committee Chairman Dave Camp began holding closed-door meetings with his Republican Committee members to discuss their tax reform options. These meetings apparently included substantive discussion of the possible provisions of a tax reform bill, complete with PowerPoint presentations.
Because the meetings have been private, we have no certain information on the issues they have discussed and/or decided. While we do not have authoritative information, we have heard from a disturbing number of sources that the Committee is almost certain to include LIFO repeal in their legislative proposal.
LIFO Coalition members, of which NAEDA is one, have met –often several times –with Members of the Ways and Means Committee and/or their staff to discuss LIFO. Nevertheless, we have heard that even some of our most committed LIFO supporters believe that repeal in some form will be included in their reform proposal.
It’s possible that the Committee will produce a “paper” – a draft proposal in some form – within a few weeks. Therefore there is a very limited window of opportunity within which to convince Committee Republicans to exclude LIFO repeal from their reform legislation.
This may not be the right time to initiate a broad grass roots campaign targeting the whole House of Representatives, but it is exactly the right time to get dealers activated to contact the Republican members of the House Ways and Means Committee. And it may be our last opportunity to try to get LIFO repeal removed from their tax reform proposal.
If you are a dealer with operations in the districts of the Ways and Means Committee, please contact your representative as soon as possible. Remind them of the harm that LIFO repeal would do to your company. Provide as much detail as possible – the Committee members need to see the real impact of repeal.
Here is a list of the GOP members of the Committee with a brief geographical description of each district and the zip codes for each. To access this list, go to: http://www.naw.org/files/ZipsList.pdf
Here is a sample letter that you are welcome to use to contact your representative. Below is also some talking points you should find them helpful if you need them. You can access those documents here:
**Sample Letter: sample letter in word
Please contact your members ASAP – we have a very short window of opportunity to persuade the GOP members of the Committee not to repeal LIFO. If they do include LIFO repeal in their initial legislative proposal, it will be a much more difficult challenge to get it removed.
Also, as the draft letter says, it’s very important that you explain to your Committee member exactly how LIFO repeal would impact you. We need to make it clear to the Committee Republicans that LIFO repeal would have a negative impact on the economy – that it would cause job loss and slow economic growth.
Please act on this today. We have successfully prevented repeal since it was first proposed in 2006, but this is the most serious challenge we have faced since then concerning LIFO.