Semi-Trailer Tax Parity Act

This bill changes federal tax law on how businesses deduct interest paid on loans used to buy inventory, known as floor plan financing. It adds truck trailers, semi-trailer chassis, and trailer bodies to the list of vehicles that qualify for the floor plan financing interest rules. This applies whether or not the purchase is the first retail sale of the trailer. Certain lighter trailers already excluded under another part of the tax code are not included. The change would apply to tax years beginning after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Blake D. Moore Republican sponsor
• 10 cosponsors