As of October 13, 2010, Iowa street rods, replicas and specially constructed vehicles are no longer required to be equipped with fenders and bumpers. Previous Iowa inspection requirements for these specialty cars specified that all vehicles were to be equipped with fenders and required a front and rear bumper.

The changes take into account the unique nature of these vehicles. In altering the fender and bumper specifications, regulators also signal their understanding of the fact that street rods and special-interest vehicles are driven less frequently than regular passenger vehicles (about one-third the miles each year as compared to a new vehicle) and should therefore not be bound to conventional equipment requirements. For more information, contact Steve McDonald at stevem@sema.org.

As of October 13, 2010, Iowa street rods, replicas and specially constructed vehicles are no longer required to be equipped with fenders and bumpers. Previous Iowa inspection requirements for these specialty cars specified that all vehicles were to be equipped with fenders and required a front and rear bumper.

The changes take into account the unique nature of these vehicles. In altering the fender and bumper specifications, regulators also signal their understanding of the fact that street rods and special-interest vehicles are driven less frequently than regular passenger vehicles (about one-third the miles each year as compared to a new vehicle) and should therefore not be bound to conventional equipment requirements. For more information, contact Steve McDonald at stevem@sema.org.

President Obama and Republican leaders have reached a compromise “framework” for a two-year extension of the 2001 and 2003 tax cuts for all income levels, set to expire on December 31. The lawmakers also agreed to a 13-month extension of federal unemployment benefits and a one-year reduction in the worker’s Social Security payroll tax (FICA) from 6.2% to 4.2%.

The compromise includes a SEMA-supported extension of the research and development tax credit through 2011, retroactive to its 2009 expiration. Additionally, the estate tax would be reinstated at 35% after the first $5 million (for two years), and businesses would be provided a 100% write-off on capital expenses for businesses during 2011 (up from 50%).

SEMA has sent a letter of support to House and Senate members urging Congress to act quickly to enact the tax relief program. SEMA believes that the tax program will have a positive and noticeable impact on the economy and will provide many of the necessary tools for small businesses to remain the most important force in driving America’s economic recovery. For more information on these new developments, please contact Dan Sadowski, SEMA congressional affairs manager at dans@sema.org.

President Obama and Republican leaders have reached a compromise “framework” for a two-year extension of the 2001 and 2003 tax cuts for all income levels, set to expire on December 31. The lawmakers also agreed to a 13-month extension of federal unemployment benefits and a one-year reduction in the worker’s Social Security payroll tax (FICA) from 6.2% to 4.2%.

The compromise includes a SEMA-supported extension of the research and development tax credit through 2011, retroactive to its 2009 expiration. Additionally, the estate tax would be reinstated at 35% after the first $5 million (for two years), and businesses would be provided a 100% write-off on capital expenses for businesses during 2011 (up from 50%).

SEMA has sent a letter of support to House and Senate members urging Congress to act quickly to enact the tax relief program. SEMA believes that the tax program will have a positive and noticeable impact on the economy and will provide many of the necessary tools for small businesses to remain the most important force in driving America’s economic recovery. For more information on these new developments, please contact Dan Sadowski, SEMA congressional affairs manager at dans@sema.org.

LADY JOHANNA: Johanna Long, 18, became only the second (Tammy Jo Kirk) female driver to win the prestigious Snowball Derby for late models Sunday at Five Flags Speedway in Pensacola, Florida.

POCKET MONEY: Jimmie Johnson collected a check for $5.778 million during the annual NASCAR Sprint Cup Series Awards Ceremony held Friday at the Wynn Las Vegas.

SPONSOR DANCE: Penske Racing and team owner Roger Penske has signed Shell/Pennzoil, IZOD, the Automobile Club of Southern California and Meijer as sponsors for his IZOD IndyCar Series teams.

CONFIRMED: Pastor Maldonado has been named driver of the second Williams Formula One entry alongside Rubens Barrichello next year.

ADJUSTED: IndyCar officials have modified the Team Enhancement and Allocation Matrix for 2011, limiting the payout program to only the top 22 entrants in the final IZOD IndyCar Series standings from 2010.

SHARING: The ARCA Racing Series will team with the USAC Silver Crown and Mopar National Midget divisions for a tripleheader at O’Reilly Raceway Park in Clermont, Indiana, July 28.

HONORED: The late Jim Hunter was the recipient of the annual Myers Brothers Award during the NASCAR/NMPA Myers Brothers Luncheon Thursday. Pocono Raceway founder and chairman Dr. Joe Mattioli was named the winner of the Buddy Shuman Award during the same event.

RIDE HUNTING: Red Bull Racing released NASCAR Sprint Cup Series competitor Scott Speed last week to make room for the returning Brian Vickers.

FIRST: Car owner Chip Ganassi received the first International Motorsports Industry Show (IMIS) Achievement Award November 30.
 
SUBSCRIBE: National Speed Sport News has been published weekly since 1934. To subscribe to National Speed Sport News for a special industry rate, visit www.nationalspeedsportnews.com.

LADY JOHANNA: Johanna Long, 18, became only the second (Tammy Jo Kirk) female driver to win the prestigious Snowball Derby for late models Sunday at Five Flags Speedway in Pensacola, Florida.

POCKET MONEY: Jimmie Johnson collected a check for $5.778 million during the annual NASCAR Sprint Cup Series Awards Ceremony held Friday at the Wynn Las Vegas.

SPONSOR DANCE: Penske Racing and team owner Roger Penske has signed Shell/Pennzoil, IZOD, the Automobile Club of Southern California and Meijer as sponsors for his IZOD IndyCar Series teams.

CONFIRMED: Pastor Maldonado has been named driver of the second Williams Formula One entry alongside Rubens Barrichello next year.

ADJUSTED: IndyCar officials have modified the Team Enhancement and Allocation Matrix for 2011, limiting the payout program to only the top 22 entrants in the final IZOD IndyCar Series standings from 2010.

SHARING: The ARCA Racing Series will team with the USAC Silver Crown and Mopar National Midget divisions for a tripleheader at O’Reilly Raceway Park in Clermont, Indiana, July 28.

HONORED: The late Jim Hunter was the recipient of the annual Myers Brothers Award during the NASCAR/NMPA Myers Brothers Luncheon Thursday. Pocono Raceway founder and chairman Dr. Joe Mattioli was named the winner of the Buddy Shuman Award during the same event.

RIDE HUNTING: Red Bull Racing released NASCAR Sprint Cup Series competitor Scott Speed last week to make room for the returning Brian Vickers.

FIRST: Car owner Chip Ganassi received the first International Motorsports Industry Show (IMIS) Achievement Award November 30.
 
SUBSCRIBE: National Speed Sport News has been published weekly since 1934. To subscribe to National Speed Sport News for a special industry rate, visit www.nationalspeedsportnews.com.

Heads up, Professional Restylers Organization (PRO)-member manufacturers! Sign up today for the second annual Technical Skills & Training Conference. The conference, sponsored by the PRO council, is slated for Monday, March 28, 2011, at Wyotech Blairsville in Blairsville, Pennsylvania. This is an exclusive, roll-up-your-sleeves opportunity to showcase and demonstrate your newest restyling and appearance products, score solid business leads, provide expert training and accelerate your company’s growth. But hurry! Space is limited. The exhibitor deadline has been extended to Wednesday, December 15, 2010.

Click here for more information and to access the exhibitor registration form.

Heads up, Professional Restylers Organization (PRO)-member manufacturers! Sign up today for the second annual Technical Skills & Training Conference. The conference, sponsored by the PRO council, is slated for Monday, March 28, 2011, at Wyotech Blairsville in Blairsville, Pennsylvania. This is an exclusive, roll-up-your-sleeves opportunity to showcase and demonstrate your newest restyling and appearance products, score solid business leads, provide expert training and accelerate your company’s growth. But hurry! Space is limited. The exhibitor deadline has been extended to Wednesday, December 15, 2010.

Click here for more information and to access the exhibitor registration form.