Travel Trailer and Camper Tax Parity Act Picks Up Early Cosponsors
Since the introduction of the Travel Trailer and Camper Tax Parity Act (H.R. 332) by Representatives Rudy Yakym (R-IN-02) and Dina Titus (D-NV-01) on January 13, 2025, the bill has garnered additional support from seven cosponsors. This early backing underscores the importance of addressing the floor plan financing challenges faced by RV dealers.
The seven new cosponsors are:
Rep. Randy Feenstra (R-IA-04)
Rep. Jim Baird (R-IN-04)
Rep. Claudia Tenney (R-NY-24)
Rep. Mike Kelly (R-PA-16)
Rep. Troy Balderson (R-OH-12)
Rep. Erin Houchin (R-IN-09)
Rep. Carol Miller (R-WV-01)
The Travel Trailer and Camper Tax Parity Act aims to rectify a drafting oversight in the 2017 Tax Cuts and Jobs Act, ensuring that RV dealers can fully deduct interest on floor plan financing for all RVs, including non-motorized towable trailers, which constitute 88% of RV sales. Currently, interest on floor plan financing for travel trailers is subject to a 30% limitation based on earnings before interest and taxes, unlike motorhomes.