Protect Your RV Home Mortgage Deduction

[DriVer]

RV Industry: Protect the RV Home Mortgage Interest Deduction

Dear RV Industry Member, Late last week a proposal from the members of the Super Committee (Joint Select Committee on Deficit Reduction) included the elimination of the second home mortgage interest deduction (MID). Since negotiations have been kept confidential, with only a few details slipping out, there is no way to know whether this provision will be in the final Super Committee deficit reduction plan until after the plan is finalized. NOW is the time to act to ensure the MID is not included in the final plan, or any future tax reform plan. ...

Click on the "Take Action" button ....

[JohnRR]

I'm thinking sooner or later someone is going to have to bite a bullet or two

[JohnRR]

Quote:

Originally Posted by Mr_D Where does it stop?

I agree our country is really hurting and I honestly do not know nor have any suggestions except it can not always be "Not Me".

[KIX]

Eliminating the MID is raising taxes. More taxes is not the answer.

[Ed S]

I just spent the last 1/2 hour typing my political response and I never post to any political flavored threads but I just could hold myself back this time. I deleted it myself since I wanted to remain in good standing here on the forum.

[Route 66]

Folks, iRV2's rules permit posts with political content when directly related to RVing.

General political and off topic comments are not permitted and will be edited/removed.

Thanks!

[DriVer]

The intention of this post is to make RV'ing people aware of pending legislation. It is NOT intended to solicit political debate or responses of any kind. If I had a preference, I would just leave the link "live" and lock down the thread if this public service announcement becomes a political firebrand.

If this legislation passes and the MID is pulled, the briefly recovering RV industry may suffer incalculable losses because not everyone is blessed to be able to go out and buy an RV for cash. Many folks claim a MID on their RV as a second home. A lot of people calculate MID in their plans when it comes to buying an RV especially if you live in the thing for extended periods. Pulling one more incentive to buy an RV is not good for the industry which employees several thousand US workers in regard to product that is predominantly made in the USA.

The minuscule amount of people that claim MIDs on RVs are only 1 tiny part of the equation. The much larger picture and greater population are folks with a second house which I believe also qualify for a MID. That's what they are after. The RV segment just gets sucked into the vacuum.

[Dan DeBruin]

I understand the concern but feel the "incalculable losses" may be a hyperbole. I agree with the original response, we all have some bullets to bite. I have not read any independent economist (and I read a lot) who has not agreed that a mix of cuts in spending and increase in revenue will be needed to fix the problem.

I don't want to lose my MID but it is not going to be the deciding factor for me about my lifestyle and I do not think it is going to effect either the lifestyle of most of us on this board or the RV industry. We may buy a 38' instead of that 40', or may buy used instead of new. Small price to pay for continuing ability to enjoy the freedom to travel and pass on to our grandkids that same freedom.

[Gary RVRoamer]

Losing the interest deduction on my motorhome would be a bitter pill to swallow, but we all are going to have to take our medicine in one form or another to solve the debt problem. Some of us will lose cherished government benefits, others will lose services they use or maybe even need, and others will lose tax deductions. I for one will NOT be writing my congressmen to badger them about saving a perk that I enjoy. We've been dancing for many years - now its time to pay the fiddler.

[DGShaffer]

Filled out and sent. Thank you for posting this. With all the tax breaks given to multi billion dollar corporations I see no reason why we can't get the slight write off that the current law allows.

[PNWGirl]

Quote:

Originally Posted by DGShaffer Filled out and sent. Thank you for posting this......

DITTO! Did mine yesterday when DriVer posted. I am glad he posted it as I would not have known.

For now, I save then buy used but it may not always be this way and I know that the RV industry is barely on shakey legs and needs all the help that it can get.......

Sheila

[traveler of california]

Sorry, but these folks don't need more money so I sent my letter.

Nick

[zip0]

Done

[bucks2]

I won't complain if it dies. The tax code has so many loopholes for so many I could accept all of them going away. No I don't have a mortgage on my home or my second home or my third home so I'm not benefitting anyway.