Between the recent pandemic and ongoing global supply chain disruptions, auto dealers are in a tough spot to keep up with tax liabilities demanded by the industry’s standard Last-In, First-Out (LIFO) accounting measures for new inventory. Idaho’s auto businesses should not be held hostage by increasing prices, shipping delays, and other factors entirely out of their control.
I am proud to back Idaho’s auto businesses by cosponsoring H.R. 700, the Supply Chain Disruptions Relief Act. This is a bipartisan, straightforward bill and I look forward to its consideration in Congress.