WEEK ENDING JULY 14, 2000

Cloture vote unnecessary, time and amendment agreement reached. AIADA and other members of the Family Business Estate Tax Coalition feared that the Senate Republican and Democratic leadership would be unable to work out an agreement on amendments and that a vote to invoke cloture (60 votes) would be necessary to bring the bill to the floor. AIADA rallied dealers across the country to contact their Senators and urge them to support cloture and passage of H.R. 8. However, the Senate leaders reached an agreement on amendments and a cloture vote was unnecessary.

Presidential veto pledged. President Clinton and Administration officials have promised a presidential veto of H.R. 8. According to a White House statement released earlier this week: "Repeal of these taxes would be fiscally unwise, would reduce the overall fairness and progressivity of the tax system, and would harm charitable giving." A two-thirds vote of the House and Senate is necessary to override a veto.

AIADA to keep battling for death tax elimination. If the President vetoes H.R. 8, AIADA will continue to battle for repeal of the death tax. "We won't stop fighting this tax," said AIADA President Walter Huizenga. "We didn't quit on the luxury tax and we are not going to quit on the death tax."

AIADA thanks those dealers and associations for their hard work. AIADA would like to say "thank you" to the dealers and state and metro automotive trade associations for their hard work on this issue.