Tag: Legislative Updates

Update on Second Home Mortgage Interest Deduction

Members of the House and Senate tax-writing committees are putting together legislative drafts that may determine the fate of one of our most prized tax benefits, the second home mortgage interest deduction. In addition other key tax deductions, such as, property tax write offs and capital gains exclusions are on the table for elimination too. […]

Conversion to Sub-octane Gasoline Threatens Boating

A member of MRAA sent staff a note with great concern about significant increases to the price that distributors will be charging for gasoline beginning on September 16. According to the material supplied to the MRAA office, the primary driver of the conversion to sub-octane (typically 84-octane) gasoline is the Renewable Fuels Standard passed by […]

Bill Status of Fair Minimum Wage Act of 2013

Congress is discussing the possibility of increasing the federal minimum wage. The passage of this could affect your business. as S. 460 would increase the wage to over $10.00 per hour from the current $7.25. The Obama Budget includes a new wage of $9.00. Also, a companion bill in the House (H.R. 1010) has been […]

Is the blendwall upon us?

The Renewable Identification Numbers rose to record highs yesterday, indicating that the blendwall is upon us. This article speaks to how ethanol blends would clearly spike gas prices—something that is obviously not good for recreational boating and fishing. Read the full article here. In addition to the likely increase in gas prices, an increase in […]

Ohio Govenor signs bill on watercraft safety

The Governor of Ohio signed a bill into law on July 11 that becomes effective with the signing that establishes clear criteria for watercraft safety instructions before a recreational boat can be stopped and boarded on Lake Erie and other Ohio waters. In the past, water safety officers could stop a boat at any time […]

GOP Presses President for Answers on Obamacare Delay

As was published in the national media recently, the White House announced a one-year delay in implementation of the employer mandate that requires employers with greater than 50 employees to pay for health insurance or face a penalty. MRAA worked during the drafting of the Affordable Care Act to exempt employers with fewer than 50 […]