RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

RVDA Supports Senate's Tax Reform Floor Plan Interest Deductibility

Wed Dec 6, 2017

145072686053695.jpgThe National RV Dealers Association (RVDA) today distributed a news brief reporting the status of the "Tax Cuts and Jobs Act" that the Senate passed Saturday, in an expression of support for an amendment to preserve floor-plan-loan interest as a business deduction.

The RVDA news brief reads as follows:

The U.S. Senate has passed the "Tax Cuts and Jobs Act" that included a NADA- and RVDA-supported amendment to preserve 100 percent interest deductibility on floor plan loans. This amendment was offered by Sen. Rand Paul (R-KY) and the bill passed on Dec. 2.

The Senate tax bill now recognizes that floor plan loans used to finance high-cost inventory such as cars, RVs, boats, and farm equipment require the ability to deduct interest expense. The earlier version of the bill passed out of a Senate committee put dealers with high-cost inventory at risk of paying higher taxes, even when the dealership does not show a profit.

Sen. Paul's leadership on this issue ensured that 100 percent floor plan interest deductibility was included in the Senate's tax bill. Full interest deductibility on floor plan loans will help protect auto, RV, and boat sales, jobs as well as tax revenue for state and local governments.

Both the House and Senate tax reform bills include nearly identical floor plan interest deductibility provisions. The bills now move to a House-Senate conference committee to reconcile their differences before both houses of Congress vote on final passage. RVDA will keep dealers advised as the tax bill moves forward in Congress. President Trump has indicated that he would like to sign a tax reform bill before Christmas.

This news brief is available on the RVDA website.