Sen. Cruz Co-Sponsors Supply Chain Disruptions Relief Act

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) is cosponsoring bipartisan legislation, the Supply Chain Disruptions Relief Act, to support auto dealers who suffered due to supply chain disruptions following the Covid-19 pandemic.

Auto dealers faced unique inventory shortages during and immediately following the pandemic. The Supply Chain Disruptions Relief Act will grant tax relief to auto dealers by providing dealerships up to three years to replace their inventory before having to pay taxes on inventory sales from 2020 or 2021.

About the bill, Sen. Cruz said, “Our nation faced a disastrous supply chain crisis due to the Covid-19 pandemic. With Bidenflation continuing to hurt Texans and Texas businesses, and while the U.S. has its credit score downgraded, we need to address continuing issues like supply chain shortages to keep things from getting worse. I am proud to join my colleagues in supporting this legislation to decrease their financial hardships as we deal with ongoing financial problems in our country.”

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