Friday, July 28, 2017
Companies Urged to Contact Congress In Support of LIFO
The LIFO Coalition has learned of the following developments in the past week:
- The Senate Finance Committee has begun writing their version of a tax reform bill
- LIFO repeal is part of the tax reform discussion
Tax writers are actively looking for sources of revenue to pay for reduced tax rates and other reform proposals like expensing. The House “Blueprint” included a Border Adjustment Tax, or BAT, that would raise more than $2 trillion. That proposal proved to be very controversial and most tax observers believe it will not be included in a final tax reform proposal. Without the BAT, other revenue sources have to be found, and that search for other revenue puts LIFO in peril.
In short, LIFO is at greater risk today than it has been for years.
The citizens employed & communities supported by LIFO-taxpaying businesses are extremely influential in & have real impact on the tax reform policies made by their congressional representatives. Knowing this, LIFO-PRO & the LIFO Coalition have formed a joint effort to contact local & state representatives on The Hill to convey to them the importance of preserving the LIFO method. It is EXTREMELY critical to inform members of Congress that there are LIFO-taxpaying businesses located within their constituencies.
LIFO taxpayers are being urged to utilize the Contact Congress page located on the LIFO Coalition’s website to contact your members of congress in support of LIFO.
Other Resources for Contacting Congress in Support of LIFO
“Pro-LIFO” Message Template on The LIFO Coalition’s Contact Congress Page: