DearColleague.us

Letter

Bill Pascrell

From the office of:

Bill Pascrell

From: The Honorable Bill Pascrell Jr.

Sent By: jasmine.vasquez@mail.house.gov
Date: 2/4/2009

February 4, 2009

Co-sponsor H.R. 159

Save our Nation’s Dealerships by Supporting the Auto Ownership Tax Assistance Bill

We must encourage long term economic activity. Specifically, we should include tax proposals to drive consumer activity at the retail level.

Cosponsors: Steven C. LaTourette; Chris Van Hollen; Albio Sires; Frank A. LoBiondo; Sheila Jackson-Lee; Donald A. Manzullo; John Conyers, Jr.; Howard P. “Buck” McKeon; Ron Paul; C.A.

Dutch Ruppersberger; Sam Farr; Robert A. Brady; Sue Myrick; David G. Reichert; Al Green; Todd Russell Platts; Steve Kagen; John Campbell; Alan Mollohan; Rush D. Holt; Dennis Moore; Patrick J.

Tiberi; Pete Hoekstra; Mike Doyle; Henry E. Brown, Jr.; John M. McHugh; Gerald E. Connolly; Eric Massa; John Sarbanes ; Donna M. Christensen; Candice S. Miller; Ed Pastor

I, along with Congressman LaTourette, have introduced the Auto Ownership Tax Assistance bill (H.R. 159). This is bipartisan and bicameral legislation which was also introduced in the Senate by Senator Mikulski and Senator Bond.

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Auto dealers and retailers play a central role in the economic health of the auto industry. Well capitalized and financially sound dealer networks are essential to the success of manufacturers, especially to those facing economic challenges. Currently, car sales are down across the auto industry, both for foreign and domestic manufacturers. Every car sale is a direct boost to the economy; therefore, we should provide incentives for Americans to invest in car purchases.

H.R. 159 would allow new car purchasers to deduct sales tax and interest payments from their purchase through the end of 2009.

Families who make less than $250,000 ($125,000 for individuals) qualify and the deduction is available for financing up to $49,500.

H.R. 159 will also provide support for States and Local Governments. This is an important measure especially when we consider that States rely on car excise taxes for their infrastructure projects. More car sales mean more revenue for struggling state and local governments.

We strongly urge you to support this proposal. If you would like to cosponsor this bill or need more information please contact Jasmine R. Vasquez (Rep. Pascrell) at 5-5751 or jasmine.vasquez@mail.house.gov or CJ Lennon (Rep. LaTourette) at 5-5731 or cj.lennon@mail.house.gov.

Sincerely,

_________________________ _________________________

Bill Pascrell, Jr. Steven LaTourette

Member of Congress Member of Congress