WASHINGTON, DC - Congressman Tom Emmer (MN-06) introduced the Trailer and Camper Technical Corrections Act to provide consistency and clarity for recreational vehicle (RV) and camper dealers, their employees and consumers. While the Tax Cuts and Jobs Act made many important changes to the way businesses can deduct interest and depreciate expenses through clearer definitions and guidelines, towable RVs and campers were inadvertently excluded from the definition of Motor Vehicle, preventing dealers and retailers from obtaining critical financing when purchasing new inventory of RVs.
"As the law is currently written, our RV dealers do not have the clarity and consistency they need, putting them at an unnecessary competitive disadvantage," said Congressman Emmer. "Since RV ownership continues to climb in Minnesota and across the country, it is imperative for Congress to immediately correct this oversight in the new tax law by passing this common sense legislation."
Currently, all 50 states define and regulate towable RVs and campers as Motor Vehicles. Through a small, technical fix, Emmer's bill ensures that motorized and non-motorized campers and travel trailers are treated the same under the U.S. tax code.
CLICK HERE to read the full text of the bill.
- Minnesota is home to over 400 RV businesses and 85 RV dealerships, employing over 3,400 Minnestoans.
- In Minnesota, the RV industry has an economic output of $969.7 million.
- A record high of approximately 10 million households in the United States own an RV.