Letter: More on Walz's plan to end subsidies for yacht ownersRecently, you published a letter to the editor from Mr. Bob Guthmiller of Colorado, who takes issue with Rep. Tim Walz’s legislation to end tax subsidies to wealthy yacht owners. I wanted to make sure your readers have the facts.
By: Sara Severs, Communications Director for Rep. Tim Walz, Worthington Daily Globe
Recently, you published a letter to the editor from Mr. Bob Guthmiller of Colorado, who takes issue with Rep. Tim Walz’s legislation to end tax subsidies to wealthy yacht owners. I wanted to make sure your readers have the facts.
The Ending Taxpayer Subsidies for Yachts Act will eliminate a tax provision that allows a small percentage of boat owners to write off the interest payments on their boats if they claim them as second homes.
Congressman Walz’s bill does not target the kind of fishing and recreational boats most Minnesotans enjoy at the lake during the summer. We’re talking about the kind of boats that Paris Hilton throws parties on or Tiger Woods takes for a cruise off the Florida coast. The kind that have kitchens, bedrooms, and bathroom facilities.
A quick Google search of Mr. Guthmiller reveals something that he didn’t include in his letter: he is a marketing executive for Yamaha Motor Company, which makes boats and boat engines. Congressman Walz is a strong supporter of American manufacturing, and of our free market system. He just does not believe that forcing taxpayers to subsidize the purchases of their wealthiest customers makes sense. And based on information Yamaha provided our office, Congressman Walz does not believe that eliminating this subsidy will have a significant impact on jobs.
Congressman Walz’s concern is ensuring our nation’s financial security. He believes eliminating handouts for folks who are wealthy enough to own yachts is a fair way to help reduce the deficit.