David Weldon: “I had or still have one of those boat companies in my district, Sea…”

On the recordJuly 25, 1997

I had or still have one of those boat companies in my district, Sea Ray, and it just about put them out of business. As I understand it, 20,000 working Americans who worked in the boating industry lost their jobs, and I know they laid off lots of people in my district, and it was a disaster because people stopped buying the boats, so they got absolutely no income into the Federal Treasury off of that tax. And because they stopped buying boats, it put the boating industry in a tailspin. I know in my congressional district it hurt the company very, very badly, and people ended up losing their jobs. When people lose their jobs they go on unemployment, they may end up on welfare, they are not paying income tax anymore. So that luxury tax I think is an excellent case study. I am glad the gentleman brought it up.

Said by

David Weldon

Republican · Florida

Source

govinfo.gov

Editor's note · Context

Discussing the impact of the luxury tax on the boating industry and job losses in his district.

Share on X Share on Facebook Email this quote

David Weldon: “I had or still have one of those boat companies in my district, Sea Ray, and it just about put them out of business. As…”

Editor's note · Context