Boat exemption amendment still up in the air

Published online: May 20, 2010 News Trade Only Today

The Brownback Amendment, which would exempt auto, boat and RV dealers from a Senate bill proposing the formation of a Consumer Financial Protection Bureau, is still pending and should receive a vote, Mat Dunn, legislative director of the National Marine Manufacturers Association said in an e-mail to Soundings Trade Only.

"The Brownback Amendment is still very much in play, and it can still receive a vote even after the Senate invokes cloture to end overall debate on the bill," Dunn said. "Yesterday, in a key test vote to limit debate and begin to wrap up the overall process on the bill, Sen. Majority Leader Harry Reid failed to get the 60 votes needed to end debate."

Dunn advised marine dealers to "stay engaged" and keep the pressure on their senators.

"The boating industry is just seeing the beginning of an economic recovery with credit still near-impossible to obtain for many consumers from many banks," the Marine Retailers Association of America said. "Don't make it harder for consumer to buy a boat by significantly increasing the reporting requirements of boat dealers not involved in providing financing of boats."

Anyone needing help contacting their senator can e-mail Larry Innis , the MRAA Washington representative.

Follow us on Facebook!  Follow us on Instagram!  Follow us on Twitter!  Follow us on YouTube!