NAFA Seeks Higher Depreciation Limits
Members of the National Association of Fleet Administrators (NAFA) are asking Congress to increase the depreciation limitations on new vehicles, as part of an economic stimulus package.
NAFA’s Executive Director David Lefever has contacted leaders of the Senate Finance Committee and the House Ways and Means Committee to explain the benefits for fleets – and to the economy. Currently, the Internal Revenue Service Code prohibits a corporate fleet from claiming full depreciation on a vehicle with a fair market value of more than $15,400. Sen. Kit Bond (R-MO) proposes raising the limitation to $25.000.
NAFA has also advised corporate fleet managers of the proposal, and encouraged members to express the advantages for their employers to key lawmakers. To request additional information, contact NAFA’s Legislative Counsel Pat O’Connor at (202) 223-6222 or email@example.com.