SEMA and other Outdoor Recreation Roundtable (ORR) member organizations welcomed a federal government final report documenting the significant economic impact of the outdoor recreation economy. The U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) found that the outdoor recreation industry contributed $412 billion to the nation’s economy in 2016 (the last available year of data), which represented 2.2% of U.S. gross domestic product (GDP). Of note, motorized recreation and motorcycling accounted for more than $20 billion in economic activity.
From The Hill
On July 13, SEMA members joined with car clubs, businesses and thousands of enthusiasts to celebrate the ninth annual Collector Car Appreciation Day (CCAD). A wide range of events was held in the United States and Canada to commemorate the special day. The celebration was designated with SEMA-requested companion resolutions introduced in the U.S. Congress by co-chairs of the SEMA-supported Congressional Automotive Performance and Motorsports Caucus. U.S. Senate Resolution 574 was sponsored by Senate co-chairs Sen. Richard Burr (R-NC) and Sen. Jon Tester (D-MT), while House co-chairs Rep. Bill Posey (R-FL) and Rep. Sanford D. Bishop Jr. (D-GA) sponsored U.S. House of Representatives Resolution 980.
What happens when a veterinarian, a farmer and a politician visit a SEMA-member company? This is a bit of trick question, since U.S. Representative Kurt Schrader (D-OR) claims each of those professions as his own. One of the most bipartisan members of Congress, Rep. Schrader is a friend of the automotive enthusiast because he is one himself. Given that, persuading him to visit the headquarters of Warn Industries in Clackamas, Oregon, was an easy sell.
U.S. Representative Norma Torres (D-CA) knows a thing or two about cars and the importance of manufacturing. When given the opportunity, she’ll proudly mention that she enjoys driving a ’66 Ford Mustang that her husband Louis restored. With that in mind, it was only a matter of time before she made her way to the SEMA Garage in Diamond Bar, California.
It’s been quite a year for Line-X. Not only did the company open a new 60,000-sq.-ft. corporate headquarters in Huntsville, Alabama, but it was also named midsize manufacturer of the year by the Business Council of Alabama and placed top in its category in Entrepreneur magazine’s annual Franchise 500 rankings. With those kinds of accolades, it’s no surprise that the company’s congressional representatives are eager to see what all the fuss is about. After hosting U.S. Senator Luther Strange (R-AL) last August, it was U.S. Representative Mo Brooks’ (R-AL) turn for a visit.
Most political coverage centers on Washington D.C.; however, less visible decisions made in state capitols profoundly impact lives and businesses. Statehouses are especially critical for SEMA members, as many—perhaps most—specialty auto products are directly regulated at the state level.
The past six months have been action-packed for Mike Braun, who is competing in a closely contested May 8 primary to be Indiana’s Republican candidate for U.S. Senate in 2018. While the days on the campaign trail can be long and arduous, that is nothing new for Braun, who knows what it’s like to put in the time needed to start and grow a business.
Voting can often seem like a cynical affair. When roughly 130 million Americans cast a ballot for president, it can be hard to see how one vote will make a difference. With that many people heading to the polls, winning the lottery may seem like a safer bet. However, sometimes truth is stranger than fiction.
President Trump signed a Republican-supported bill into law that overhauls the U.S. tax code and reduces taxes by $1.5 trillion over the next decade. The U.S. Congress passed the Tax Cuts and Jobs Act (H.R. 1) just before Christmas. It provides the most sweeping changes to the federal tax code in decades while reducing tax bills for businesses and workers alike.
It’s often said that it’s not what you know but who you know. In today’s political climate, it pays to have a sizeable Rolodex.