From Las Vegas to Washington D.C., lobbyists swarm U.S. Congress on tax bill


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Recreational vehicle retailers from across the country were sipping morning coffee at a convention in Las Vegas earlier this month when word whipped through the hotel's "dealers' lounge" that the U.S. Congress was considering tax law changes threatening their businesses. Republicans in the House of Representatives wanted to jettison a part of the tax code that lets dealers of RVs, cars, boats, even farm and construction machinery, write off all the interest expense of keeping inventories of vehicles on their sales lots.

Cancer Treatment Centers founder receives honor

Cancer Treatment Centers of America chairman and founder Richard J. Stephenson was recently recognized by The Horatio Alger Association of Distinguished Americans for his entrepreneurial spirit and passionate commitment to the wellbeing of others. For the last 70 years, the Horatio Alger Award has been bestowed upon leaders who are committed to higher education and charitable efforts in their local communities.

Wall Street Is Making It Harder to Buy a Car

On countless occasions in recent years, the U.S. auto industry has relied on cheap and easy credit from Wall Street to get it through rough patches. With both bad loans and interest rates on the rise, financial institutions are becoming more selective in doling out credit for new-car purchases, adding to the pressure for automakers already up against the wall with sliding sales, swelling inventories and a used-car glut.

Donald Trump names China critic Robert Lighthizer to lead US trade negotiations

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Court rules against CarMax in fight over vehicle inspections

A federal appeals court in San Francisco says used car retailer CarMax must tell buyers in California the condition of individual vehicle components it inspects. The 9th U.S. Circuit Court of Appeals said Thursday CarMax's practice of providing buyers with the list of components inspected as part of its used car certification program, but not their condition, violates California law.

House Ethics panel investigating Texas congressman

A congressional review panel says there is "substantial reason to believe" that a Republican congressman from Texas may have been perceived to be acting in his own financial interest when he offered an amendment to benefit auto dealers last year. Texas Rep. Roger Williams is an auto dealer, and he has come under scrutiny by the House Ethics Committee over an amendment he offered to a wide-ranging transportation bill that would have allowed auto dealers to rent out vehicles even if they're subject to recall.

Auto parts company fined US$130 million for fixing prices in Canada and U.S.

Japanese auto-parts manufacturer Nishikawa Rubber Co. has agreed to plead guilty and pay a US$130-million fine for its role in an international bid-rigging scheme that affected car sales in Canada and the U.S. Subject to imposition by the U.S. courts, the resolution is the result of an unprecedented collaboration between Canada's Competition Bureau and the Antitrust Division of the U.S. Department of Justice.