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Kildee Eyes Auto Dealer Tax Deferral In Chips Bill

April 27, 2022, 10:38 PM

Advocates for relief from the supply chain-related tax crunch auto dealers face are trying to insert a tax deferral into a larger effort to address semiconductor shortages and other supply-chain issues.

Rep. Dan Kildee (D-Mich.), author of legislation to prevent the hike that businesses face—especially auto dealerships—and one of the negotiators of the broader legislation known as the America COMPETES Act (H.R. 4521) confirmed to Bloomberg Tax that he’s interested in inserting his LIFO deferral into the broader bill.

“If the opportunity arises we’d be certainly interested in having this be in that bill,” said Kildee. “I know ...