Over the course of the past month, a surge of activism has swirled through the American car collecting community. What has triggered this rallying cry to action, you might ask? Preservation? Youth involvement? Nope…taxes.
On May 23, the U.S. Department of Commerce posted a request for public comment on “Section 232 National Security Investigation of Imports of Automobiles, Including Cars, SUVs, Vans and Light Trucks, and Automotive Parts.” While this may sound as dry as a Porsche’s radiator, what it proposes is an across the board 25% tax on all foreign cars and parts imported into the U.S., under the notion that these imports pose a risk to “national security.” But what has caught the attention of the rank-and-file in the collector car community is the lack of specificity in the language of the proposal—as written, this applies to ALL imported vehicles and parts, regardless of age. As such, should your lifelong search for that lost Etceterini in the Guatemalan jungle finally end in a $100,000 purchase, when you go to collect your rusted out hulk and milk carton full of parts at the dock, you can expect Uncle Sam to be waiting for you and expecting his $25,000 taste. Ouch. [Click here to read the full proposal.]
