Support Travel Trailer and Camper Tax Parity Legislation
U.S. Representatives Rudy Yakym (R-IN) and Dina Titus (D-NV) have introduced the bipartisan
Travel Trailer and Camper Tax Parity Act (
H.R. 3624) . The bill would enable all RV dealers to fully deduct the interest on floor plan loans for non-motorized towable trailers, which account for 88 percent of RV sales.
U.S. Senators Joni Ernst (R-IA) and Angus King (I-ME) have introduced a companion bill,
S.3345, to remedy this error in the tax reform bill that inadvertently removed travel trailers from the definition of “motor vehicle” for the purposes of floor plan financing interest deductibility.
The bill has the strong support of RVDA and RVIA. Under the Tax Cuts and Jobs Act, which Congress, floor plan interest on travel trailers/towable units is currently subject to a 30 percent limitation on interest expenses based on earnings before interest and taxes for dealers with more than $29 million in annual sales. The RV industry has been advocating for this fix to ensure that all segments of the RV industry are treated fairly by allowing floor plan financing interest charges on towable RVs to be a deductible expense.
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Contact Congress
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