Wednesday, January 14, 2009

RV dealers urged to contact congress

RVDA Press Release

Fairfax, Va. -- RVDA has joined more than 75 Net Operating Loss Coalition partners to support federal legislation that would extend the net operating loss (NOL) period for small businesses.

An extended NOL carryback period is a proven economic stimulus measure, one that can deliver vital help to our nation's struggling economy. Because capital to continue operations is extremely tight, the need to transform a future tax benefit into cash today is critical to maintain otherwise viable businesses.

Extending the carry back period to five years would allow companies to carry back losses to earlier profitable years. Due to negative press, Members of Congress, particularly House Democrats, need to hear from companies representing a wide range of industries, about the benefits that extending the NOL carryback period would provide.


Please urge that the following language be included in economic recovery legislation:

•Extend the NOL carryback period to 5 years (from current 2 years) for 2008 and 2009.
•NOL carryback is a proven tool for restoring jobs.
•This relief will get cash now to NOL companies that otherwise would have to wait until future years to use their NOLs.
•This relief is Targeted, Timely, and Temporary – criteria many economists use for assessing economic recovery proposals.
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