NADA Notes MESSAGE FROM NADA DIRECTOR STEVE MIDDLEBROOKS NADA DIRECTOR The NADA Show will take place in Las Vegas on February 1–4, 2024. Stay tuned for registration information. As always, NADA is putting together another stellar lineup of speakers, workshops, exhibitors and much more. I look forward to seeing many of you at the biggest industry event of the year. NADA continues to monitor activity in Washington, D.C. I recently attended the NADA Board of Directors Legislative Committee and visited members of our Georgia delegation on Capitol Hill. NADA’s top priorities are: OPPOSING THE OVERREACHING FTC “VEHICLE SHOPPING RULE” WHICH WOULD COMPLICATE VEHICLE SALES AND HARM CONSUMERS. The Federal Trade Commission (FTC) proposed a “Vehicle Shopping Rule” that would overwhelm car buyers and small businesses with additional paperwork and needlessly lengthen the sales process. The rule was proposed without credible data-driven analysis or the necessary time for public comment to avoid unintended consequences to consumers and small businesses. Congress should use its oversight authority and “power of the purse” to reign in the FTC to ensure this rule-making process does not negatively impact consumers and small businesses. PASSING THE BIPARTISAN “SUPPLY CHAIN DISRUPTION RELIEF ACT” DUE TO THE PANDEMICRELATED INTERRUPTION OF AUTO PRODUCTION (H.R. 700/S.443), otherwise known as LIFO Relief. Vehicle assembly plants around the globe ceased or slowed production during the pandemic, drastically reducing new vehicle inventory. With no way to replenish vehicle inventory, dealers using the last-in-first-out (LIFO) method of accounting are facing major unanticipated tax liability due to circumstances beyond their control. Last Congress, this legislation unanimously passed Senate on Dec. 22. However, time ran out before the previous House bill, which had 175 House cosponsors could be considered. Members of Congress should cosponsor the “Supply Chain Disruption Relief Act” to allow businesses on LIFO extended time to replace vehicle inventories as pandemic-related global disruptions and reduced auto production made it nearly impossible to replenish new vehicle supply. THE GENERATOR 8
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