Reform Framework Benefits American Businesses and Workers
Alexandria, VA (September 27) – The American International Automobile Dealers Association (AIADA), on behalf of the United States’ 9,600 international nameplate automobile dealers, today commented on the release of President Trump’s tax plan. Dealers voiced support for some aspects of the plan, including the reduction of the corporate tax rate from 35 percent to 20 percent, elimination of the family business-killing Estate Tax, and capping of the pass-through business rate at 25 percent. AIADA continues to await specificity on other important aspects of the plan.
“As small business owners, dealers are happy to see the tax reform debate being moved forward in Washington, D.C., and pleased by the priorities of the White House plan released today,” said AIADA President Cody Lusk. “The American tax code is broken, and American businesses and workers have been penalized by it for decades. We look forward to the release of further details and working with Congress and the Trump Administration to improve our tax code in ways that will stimulate the economy while benefitting American families, workers, and entrepreneurs.”
America’s 9,600 international nameplate auto dealers, the majority of which are family-owned businesses, employ more than 577,000 Americans, resulting in a payroll of $32 billion and an additional 527,000 indirect jobs. Last year, they sold 8.4 million vehicles to American consumers – 59 percent of total U.S. retail vehicle sales. For more on the impact of America’s international nameplate dealers on our economy visit AIADA.org/our-impact.
About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America’s international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org.