A bill introduced in the U.S. House of Representatives would end tax breaks on vessels qualifying as second homes. Typically, these are boats that have a galley, head, and berth and are 26 feet or longer.
According to ThreeSheetsNW:
The National Marine Manufacturers Association (NMMA) slammed the bill, saying it would jeopardize thousands of boating industry jobs and is based on a misbelief that American taxpayers are subsidizing the lifestyles of wealthy yacht owners.
More from WSJ:
“Homeownership is part of the American Dream and we should encourage it, but yacht owners don’t need any special handouts, especially in the middle of a budget crisis,” said Gary Peters, a Democrat of Minnesota.
Comments are closed.