Sept. 14, 2021—Several auto industry groups, including the Specialty Equipment Market Association (SEMA) and the Auto Care Association (ACA), have announced opposition to proposed federal tax increases.
The industry groups, along with 120 other trade groups, signed a letter opposing the legislation that could include as much as $1.75 trillion in new federal tax increases. The tax package is part of a $3.5 trillion spending plan under consideration in Congress that would fund climate initiatives, paid leave, child care, education and health care.
Analysts are already predicting that the spending plan could be pared back significantly during negotiations over the coming weeks, Repairer Driven News reported.
About the Author
Ratchet+Wrench Staff Reporters
The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.
