LAS VEGAS — The membership of the Tire Industry Association approved resolutions Nov. 1 in support of an infrastructure investment program and a nationwide right-to-repair initiative and opposing proposed revisions to the estate tax.
On the first issue, TIA resolved to work with Congress to support a nationwide $2.5 trillion infrastructure investment, provided it doesn't rely on "unreasonable and unfair" proposals such as:
- reinstating a federal excise tax on passenger tires or tread rubber;
- raising the FET on trucks, truck tires and parts;
- adopting a vehicle-miles-traveled tax;
- raising the tax on motor fuel;
- privatize up to 47,000 miles of interstate highway; or
- repealing the Last In/First Out accounting system.
As for R2R, TIA resolved to support passage of federal legislation to preserve consumer access to "high quality and affordable" vehicle repair by ensuring that as vehicles continue to modernize, vehicle owners and their "repairer of choice" have equal access to repair and maintenance tools and data.
Further the trade group resolved to work with the Federal Trade Commission to draft legislative language to propose to Congress and will work for its passage.
Regarding the estate tax, TIA opposes the Biden administration's proposals to revert the estate tax exemption to $5 million (indexed for inflation), effective Dec. 31, raise the tax to 60%, eliminate the "step-up in basis" and lower the lifetime gift tax exclusion to $1 million.