WASHINGTON - A top congressional tax writer wants to repeal an accounting tool that many auto dealers consider essential. Rep. Charles Rangel, D-N.Y., last week unveiled a proposed tax code overhaul that he said would reduce tax bills for 90 million families and many businesses. Some industry observers think dealerships already in trouble would be pushed over the edge. David Regan, vice president for legislative affairs of the National Automobile Dealers Association, said a repeal of the tool known as LIFO - for last in, first out - would be another stress that a troubled industry doesn't need.
Tax change would hit dealers
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