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NATIONAL MARINE MANUFACTURERS ASSOCIATION PRESIDENT URGES BOAT LUXURY TAX REPEAL IN WAYS AND MEANS RECONCILIATION BILL

 WASHINGTON, May 21 /PRNewswire/ -- Jeff Napier, president of the National Marine Manufacturers Association, today urged all members of the recreational boating industry to contact their representatives in Congress and urge support of the budget reconciliation bill to be considered by the full House of Representatives next week.
 Included in the reconciliation is a provision adopted by the Ways & Menas Committee which will repeal the so-called luxury tax on new boats costing over $100,000. In large part, that tax enacted several years ago, has caused the bankruptcy of many pleasure boat producing companies and has put some 25,000 to 30,000 skilled boat workers on the unemployment rolls.
 According to Napier: "While there are groups who are seeking to defeat the bill, we believe it is of utmost importance to our members and the boating industry that the tax be repealed so that our displaced workers can go back to work and begin to get our companies back to the business of doing what we in America do best, that is building the world's best pleasure boats."
 -0- 5/21/93
 /CONTACT: Mary M. Mann of the National Marine Manufacturers Association, 202-944-4980/


CO: National Marine Manufacturers Association ST: District of Columbia IN: MAR SU: LEG

IH-TW -- DC012 -- 1228 05/21/93 13:16 EDT
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Publication:PR Newswire
Date:May 21, 1993
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