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LIFO Coalition MSCI is a founding member of the LIFO Coalition – an ad hoc group of more than 115 trade associations representing hundreds of thousands of businesses. The Coalition was formed in 2006 to oppose proposals by the U.S. Congress to repeal or restrict the use of the last-in, first-out (LIFO) inventory accounting method under U.S. tax laws. Members of the coalition represent a wide variety of businesses, including manufacturers, wholesaler-distributors, retailers and energy producers. Today the fight to maintain LIFO has more prominence than ever as the Coalition mounts a fight against President Obama’s budget proposal to eliminate LIFO. As best as can be estimated, the elimination of LIFO would create a tax liability significantly more than the $61 billion estimated in the budget proposal. The Coalition’s best estimate is that the tax liability would be more than $100 billion for U.S. based businesses. The Coalition has been very active educating members of Congress on the impact of the elimination of LIFO on U.S. businesses. MSCI encourages you to write to your member of Congress - both senators and representatives. Representatives and their congressional staff members have asked for input from their constituents, so your letter is critically important. You can also help the Coalition by completing a brief seven question survey. Please click here to take the survey. The materials below are designed to help you educate the members of Congress who in many cases have never run a business and who do not understand LIFO and the impact of the elimination of this inventory valuation method would have on business.
To contact your Senator, go to: http://www.senate.gov
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