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 .
Tue Nov 27, 2018
Author: RV News Staff
RVDA has joined RVIA’s push to lobby the lame-duck 115th Congress to pass legislation revising the unintentional exclusion of tax deductibility for loans on RVs from last year’s tax reform bill.
The problem stems from a decision by the conference committee of both houses to simplify the tax bill’s wording in such a way as to exclude from tax deductibility any RVs that aren’t self-propelled. This puts RV travel trailer dealers at a competitive disadvantage because dealers in other kinds of recreational vehicles can still fully deduct interest paid on their inventory floor plans. RV trailer dealers’ net interest deduction is limited to 30 percent of earnings before interest, taxes, depreciation, amortization and depletion. This harms not only their profitability, but also their ability to effectively compete with other recreation dealers, RVDA says. RVs are considered under state laws to be vehicles and changing the definition of an RV in the tax law will restore full tax deductibility for towables under federal law.
RVDA is requesting all dealers and other interested parties to contact their senators and representatives and urge them to modify the law to change the tax status of towable RVs.
To contact U.S. Senators, click here.
To contact U.S. Representatives, click here.