WEEK ENDING OCTOBER 29, 1999

AIADA Rallies Support for
Bill Including Estate Tax Relief

Vote on minimum wage/tax package expected next week. Similar to the auto luxury tax phase out passed in 1996 as part of a bill to increase the minimum wage, Congress has again drafted a measure -- The Wage and Employment Growth Act of 1999 (H.R. 3081) -- including a minimum wage hike and tax cuts for small business. In addition to increasing the minimum wage by $1 over three years, the bill provides $34.3 billion in tax relief. The bill includes more than $16 billion in federal estate and gift tax relief.

On Thursday, the House Republican leadership asked AIADA and other members of the business community for help in securing votes for the bill. The leadership hopes to vote on the measure sometime next week. If they do not have sufficient support for the bill, they will not bring it to the floor.

AIADA alerts all dealers, urges them to contact their Representatives. AIADA sent a legislative alert to all dealer members asking them to contact their Representatives and encourage them to support the minimum wage bill including estate tax relief. AIADA urged the dealers to act quickly because this bill is likely the last chance for tax relief this year. AIADA Chairman Joe O'Brien also sent a special alert to AIADA's State Legislative Directors and State Representatives, who comprise AIADA's grassroots dealer network.

AIADA urges Congress to pass bill including estate tax relief. AIADA has contacted every House member and asked them to support H.R. 3081. Estate tax relief has been a legislative priority for AIADA and topped the dealer agenda at the annual May Automotive Congress in Washington. AIADA informed Congress that the "death tax has had a devastating impact on family-owned small businesses." AIADA also highlighted that "death tax relief will allow small business automobile dealers to allocate fewer resources to pay for accountants and lawyers and more on creating economic growth."

Japan's trade surplus rises slightly in September. As Japan's trade surplus with the rest of the world shrank in September, it's surplus with the U.S. increased 4.9 percent. Japan's surplus with the rest of the world dropped 9.7 percent. A Japanese Ministry official predicted that the Japanese trade surplus would continue shrinking "for the time being." Japan's auto exports to the U.S. rose 2.2 percent.

QUOTE OF THE WEEK:
"He's like a whiny child who
picks up his marbles and leaves."
Former First Lady Barbara Bush on
Pat Buchanan leaving the Republican Party

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