MRAA wants tax credit protected from deficit-reduction plan

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The Marine Retailers Association of America is urging dealers to tell the congressional supercommittee that is working on a deficit reduction plan to retain the primary and secondary home mortgage interest deduction.

With six of the 12 committee members publicly advocating increased tax revenue, the MRAA is concerned that the panel could consider elimination of the deduction or a significant restriction on who can take the deduction or how it can be taken.

The Joint Select Committee on Deficit Reduction is charged with the task of identifying $1.5 trillion in federal budget cuts. The committee must provide Congress with recommendations by Thanksgiving.

The MRAA is asking dealers to get in touch with the committee through its website.

Click here for the committee’s contact page.

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