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Friday, 04 June 2021 19:54

Treasury Declines to Expand CERTS Eligibility to Car Rental

Written by Auto Rental News Staff

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The American Car Rental Association provided the following updates on current issues of interest to U.S. car rental operators.

Federal COVID Relief Program Implementation

 

The U.S. Treasury Department has issued guidance on the implementation of the $2 billion in grants for transportation service providers (CERTS) from the COVID 4.0 law in December 2020. Treasury limited eligibility for the grants to the small number of industries specifically listed in the law and declined to use its discretion to expand eligibility to other industries such as car rental.

 

Congressional Focus

 

Highway Bill/Infrastructure/Jobs/Social Safety Net Bill: President Joe Biden has proposed two multi-trillion-dollar legislative initiatives---one focused on infrastructure (loosely defined) and the other on expanded the federal “safety net.”

 

Both proposals face uphill battles in Congress, particularly in the Senate, where some conservative Democrats have balked at the sheer size of the expenditures contained in the bill. ACRA has focused on support for electric vehicle infrastructure expansion to enable a sustainable mobility future that includes the car rental industry.

 

On the tax front, the ACRA Board is focused on extending the 100% expensing for personal property---aka bonus depreciation---which is scheduled to begin to sunset in 2023, rather than on proposals to increase the federal corporate tax rate.

 

ACRA filed a statement at the hearing of the House Energy & Commerce Committee on May 5 supporting federal funding for EV charging infrastructure.

 

International Tourism---ACRA filed a statement May 18 at a Senate Commerce Committee hearing on...


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