Motorcoach

Tax extenders benefitting motorcoach companies passes senate

Posted on December 17, 2014

On Wednesday evening, the Senate passed legislation (HR 5771), otherwise known as Tax Extenders. The House passed a similar bill on December 3rd, clearing the way for the bill to be headed to the President's desk and enacted into law. The bill extends bonus depreciation of business assets and the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation for 2014 purchases, advocated for by the United Motorcoach Association (UMA).

UMA supported passage of the critical legislation and applauds the House and Senate for its passage and recognition of the importance of business investment and creating jobs. UMA also participated in a coalition of over 500 other industry associations in support of the package of tax extenders.

"We have been monitoring the progress of these tax provisions closely and urging passage at every turn," states Brian Annett, UMA chairman and president of Annett Bus Lines in Sebring, Fla.

Victor Parra, president/CEO of UMA also commented, "Studies reveal that once purchased, every motorcoach equals approximately 3.4 jobs."

A vote on the bill was delayed in the Senate as lawmakers wrestled with an omnibus spending bill that passed last week funding most of the government through the end of fiscal year 2015 and while a number of Presidential nominations were cleared.

The UMA legislative team is already hard at work urging Congress to make this critical tax provision permanent next year.

"Bus and motorcoach company owners need certainty when planning upgrades and expansion," states Brian Annett. "Making tax credits permanent will encourage operators to purchase new coaches and create new jobs."

View comments or post a comment on this story. (0 Comments)

More News

FMCSA's drug and alcohol database IDs nearly 8k abuse violations

The clearinghouse, which now has more than 650,000 registrants, was launched Jan. 6.

Prevost adds advanced driver assist, electronic side mirrors

The system adds frontal collision mitigation, stationary vehicle braking, lane departure warning, and a dash integrated heads-up display.

UMA President Tetschner to leave post in March

Larry Killingsworth, an industry veteran, will step in as interim president/CEO and lead the search for Tetschner's replacement.

MCI announces first Canadian operator to test electric coach

Coach Atlantic Maritime Bus will demonstrate MCI’s new battery-electric MCI D45 CRTe LE coach this spring.

MCI service center tech wins Grammy Award

Andrew Craig Brown received the award  as a cast member of the recording of "Picker: Fantastic Mr. Fox.”

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation