RVIA Asks Government to Free Up Consumer Credit as Part of TARP

RVIA Press Release...

RVIA President Richard Coon sent letters to Secretary of the Treasury Henry Paulson and Congressman Joe Donnelly (D-IN) last month discussing the critical need to make consumer and dealer floor plan financing more readily available for RV consumers and dealers.

Coon made three specific requests to Donnelley and Paulson:
1) A portion of the second half of the TARP $700 billion stimulus must be used for consumer and business loans. It is essential that the government focus on easing the liquidity crisis at the level that drives the nation’s economy.

2) RV consumer and business loans should be included in the liquidity facility for asset-based student loans, auto loans, and credit card loans announced on November 25. RV loans are historically some of the safest loans.

3) Congress should consider making excise and sales tax on new RV purchases deductible. The second Senate stimulus legislation exempts automobile excise and sales taxes and there is companion House legislation.

RVIA encourages members of the RV industry to make these points to Members of Congress.

The RVAct website allows quick and easy contact with federal legislators. By clicking on the featured alert- “Tell Congress to Protect RV Interests in Difficult Economic Climate”- you can put in your zip code and a form letter on this issue will automatically be generated for your two United States Senators and one Member of the House of Representatives.

When writing your letter, please personalize it with relevant statistics and insight on your company, organization, and region.

RVIA will continue to update members as federal action on RV financing and retail sales incentives develops.