NAFA Supports Increase in Depreciation Deduction
The National Association of Fleet Administrators (NAFA) has written to Paul O’Neill, secretary of the Treasury, supporting an increase in the depreciation deduction allowed on fleet vehicles. NAFA’s Executive Director David Lefever requested that O’Neill use the authority under current tax law to exempt trucks and vans from the depreciation limits in the tax code. Since the secretary’s authority does not include charges for passenger cars, NAFA also asked him to support legislation sponsored by Sen. Kit Bond (R-MO), which would increase the depreciation limits on passenger cars.