The Recreation Vehicle Industry Association (RVIA) today (Nov. 17) called on the entire RV industry – suppliers, manufacturers, dealers and consumers – to redouble efforts to tell the Congressional Super Committee and all of Congress not to eliminate the second home mortgage interest deduction for RVs.
According to a press release, late last week some members of the Super Committee (Joint Select Committee on Deficit Reduction) noted the elimination of the second home mortgage interest deduction among the proposals under consideration by the committee. Retention of the federal second home mortgage interest deduction is a top priority for the RV industry because it helps make owning an RV more affordable, something especially important in tough economic times. RVIA said elimination of this deduction would hurt RV buyers and owners, most of whom are middle class Americans, and threaten U.S. RV manufacturing jobs.
As of 11 a.m. on Thursday over 3,500 RV industry members and consumers had sent over 10,500 messages to Congress asking the Super Committee not to raise taxes on middle class RV owners.
Although this is seen as a strong response, RVIA advises that in order for this effort to have an effective impact, RV consumers and anyone in the industry who has not already reached out to their member of Congress should take the time to do so as soon as possible. The Super Committee is still hammering out details of its proposal, and negotiations may well continue into next week.
By visiting www.rvact.com one can simply and efficiently make their views on this issue known to their members of Congress.
According RVIA President Richard Coon, “These are the times when the true character of our industry is apparent. When we all come together to do what is right for the customer and the entire industry.”
Coon credits a myriad of industry groups and associations for putting forward a unified and powerful message, noting, “Every national and state association is engaged in this effort. From consumer clubs to manufacturer groups to dealer groups, the entire industry is rallying behind the effort. Today, our entire industry speaks with one voice. And what it is saying is: do not raise taxes on middle income RV buyers and owners; do not jeopardize RV industry jobs.”
The following is a letter issued by the Recreation Vehicle Dealers Association (RVDA) urging members to take action toward preserving the second home mortgage interest deduction.
A proposal from the members of the Joint Select Committee on Deficit Reduction (the Congressional Super Committee) includes the elimination of the second home mortgage interest deduction, which includes most types of RVs.
Since negotiations are confidential, there is no way to know whether this provision will be in the final deficit reduction plan until after the plan is finalized. The Super Committee is meeting now, so it is time to act to prevent the elimination of the mortgage interest deduction.
Please contact your U.S. senators and representatives via e-mail today. A suggested message is below, followed by links to reach your senators and representatives.
Suggested e-mail message to preserve tax deductilbilty of RV loans:
As a small business person and RV dealer I am very concerned about the possibility of the Congressional Super Committee targeting second home mortgage interest deductibility as a means to reduce the deficit.
The ability to deduct interest on a motorhome or travel trailer is a major consideration that my customers take into account when purchasing an RV. RV buyers are predominantly middle class and very price conscious. The ability to deduct the interest on their RV loan helps hundreds of thousands of American consumers to fulfill their dream of buying an RV. Right now, our business is in slow recovery, and any change in the tax status of RV loans will hurt our industry and cost American jobs.
As a small business owner, I am very much in favor of getting America’s finances in order. But balancing the budget by raising taxes on middle class RV owners is wrong.
I strongly urge you to do everything possible to retain the second home mortgage interest deduction as it relates to RVs.