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Inside this issue
Dealers Should Contact Senators to Urge Support for Sen. Paul Amendment to Preserve Floor Plan Interest Deductibility
Fort Worth Star Telegram: Texas Car Dealers Could Be Hit Hard by Senate Tax Plan
Court Sides with Trump in Consumer Agency Fight
Subaru Says Electrified Vehicle Coming in 2018
NADA Show 2018 Announces Schedule for Educational Workshops
Top Stories
Dealers Should Contact Senators to Urge Support for Sen. Paul Amendment to Preserve Floor Plan Interest Deductibility

Today is a critical day for the tax reform bill as Senators begin voting on the “Tax Cuts and Jobs Act”.  Included in this bill is a provision that would reduce the current 100 percent deduction of business interest, including floor plan interest, to 30 percent of adjusted taxable income.  America’s franchised dealers have urged the Senate to adopt the House position on this issue, which preserves full deductibility of floor plan interest.

Sen. Rand Paul (R-Ky.) plans to introduce an amendment today to restore the full deductibility of floor plan interest as included in the House bill.  Passage of the Paul amendment would ensure that small business dealers aren’t penalized with higher taxes simply because they carry a high-cost inventory.  NADA strongly supports the Paul amendment and thanks him for his leadership on this important issue to ensure closely-held small businesses with large inventories are not treated the same as large corporations.

Dealers are urged to contact their Republican Senators and ask them to cosponsor Sen. Paul’s amendment. Dealers should call their Senators, even if calls have already been placed, to urge support for the Paul amendment. Debate will likely begin today with amendments being voted on later today or tomorrow and the final vote on passage on Friday. This amendment process will be the last chance to make changes to the Senate bill.

Click here for the one-pager. Click here for the list of Senate Republican phone numbers

Click here to be connected with your Senator directly.

We want to hear your Senate feedback! Please contact Patrick Calpin, NADA Legislative Affairs, at 202.547.5500 or at legislative@nada.org to report your if your Senator(s) support the Paul amendment.
Source: NADA

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Fort Worth Star Telegram: Texas Car Dealers Could Be Hit Hard by Senate Tax Plan
By Charles W. Gilchrist

In a state as big as Texas, driving isn’t a convenience — it’s a way of life. The average Texas motorist logs more than 16,000 miles behind the wheel each year, far more than the average American. Nationally, nearly 1 in 10 new vehicle registrations occurs in the Lone Star State.

The central role cars play in Texas means that policies that impact the automobile industry affect us more than most. The tax reform package being considered by Congress has many benefits — but a major wrinkle in the Senate version could force some dealerships in Texas to shutter. That would devastate Texas motorists and jeopardize more than 200,000 jobs.

Earlier this month, the U.S. House passed the Tax Cuts and Jobs Act, a comprehensive reform of the nation’s tax code. The bill kept in place a rule that allows local dealerships to deduct the “floor plan interest expense” they pay on the loans they rely on to purchase cars.

Now the Senate is considering its tax plan, which removes much of the deduction dealerships now have. That threatens to financially endanger many of us.
Source: Star-Telegram (Fort Worth, Texas)

Charles W. Gilchrist is president of Southwest Ford in Weatherford. He’s on the board of directors of the National Automobile Dealers Association and is 2018 vice chairman-elect.

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Court Sides with Trump in Consumer Agency Fight

A federal judge on Tuesday rejected a lawsuit from an official who claims that she, and not President Trump appointee Mick Mulvaney, is the rightful director of the Consumer Financial Protection Bureau (CFPB). Judge Timothy Kelly of the U.S. District Court of the District of Columbia refused to grant Leandra English a restraining order to bar Mulvaney from serving as the CFPB’s acting director. The ruling from Kelly, a Trump appointee, clears the way for Mulvaney to run the CFPB until a permanent director is sworn in or English successfully appeals the decision.
Source: The Hill

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Subaru Says Electrified Vehicle Coming in 2018

Subaru will have an electrified vehicle — meaning an electric car, hybrid or plug-in hybrid — for shoppers next year. Tom Doll, the automaker's U.S. chief, said to expect one "in market" next year, as Subaru "know[s] we have to have an electric vehicle and hybrid vehicles coming in order to comply" with emissions regulations. That would mark the first U.S. hybrid for Subaru since it discontinued the Crosstrek Hybrid in late 2016.

Last April, the automaker promised an unspecified hybrid at some point in the future, but a spokesman declined to share a time frame. Doll's comments change that. They came during questions at AutoConference LA, an industry event hosted by the National Automobile Dealers Association and J.D. Power and Associates on the eve of the 2017 Los Angeles Auto Show.
Source: Cars.com

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NADA Show News
NADA Show 2018 Announces Schedule for Educational Workshops

At NADA Show’s workshops and idea sharing sessions, attendees get to the heart of current issues and trends in the areas of employee recruiting and retention, fixed operations (parts and service), variable operations (sales), digital and traditional marketing, legal and regulatory issues and more. Dealers, managers, consultants and other experts come together to work towards actionable solutions to the challenges dealers face each day.

Here's the full schedule of workshops and educational sessions at NADA Show 2018 next March. With more than 100 educational sessions scheduled, you’ll want to take the time to look over the schedule and plan accordingly. Workshops can be searched by track, date, topic and speaker in the advanced search feature.
Source: NADA Blog

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Quotable
"Dealers are urged to contact their Republican Senators and ask them to cosponsor Sen. Paul’s amendment, which preserves floor plan interest deductibility."

    --  NADA Legislative Affairs Alert, Nov. 29

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