On Tuesday, July 1, the Senate passed the One Big Beautiful Bill Act, the bill that will extend the 2017 Trump tax cuts and provide funding for the federal government.
Critical to the RV industry, the bill includes a fix that will enable all RV dealers to fully deduct the interest on floorplan loans for non-motorized towable trailers, which account for 88% of all RV sales. This is significant progress on an issue the RV industry has been working on since the inadvertent error removed the floorplan deductibility for towable RVs in the 2017 Tax Cuts and Jobs Act. The bill also still includes the elimination of de minimis starting July 1, 2027, despite the provision initially being removed from the bill.
Additionally, the RV Industry Association worked with its partners at the Outdoor Recreation Roundtable (ORR) to advocate for the removal of a provision in the bill that would have sold hundreds of thousands of acres of America’s public lands and waters in Nevada and Utah. Although the provision was not included in the House, Senators attempted to include it in the Senate. Thanks to partners across the outdoor recreation space, the amendment was pulled.
What’s next: The bill now goes to the House, where it is expected to pass.
For more information, please contact Samantha Rocci, Director of Federal Affairs.
