Bush Asks Congress To Limit Cap On Tax Credits For Hybrid Vehicles
Hybrid Cars from Hybrid Hippie!
Tax incentives for clean vehicles, such as hybrid cars, are great legislation. Unfortunately, tax credits for hybrids are capped. Consequently, before the end of this year, Toyota hybrids will not qualify for the full tax credit.
At least for this year, that could change.
"The easiest way to promote fuel efficiency is to encourage drivers to purchase highly efficient hybrid or clean diesel vehicles," President Bush said in an address to the Renewable Fuels Association summit in Washington.
"If the automakers sell more than their limit, new purchasers are not eligible for the full tax credit.
"And so here's an idea that can get more of these vehicles on the road, and that is to have Congress make all hybrid and clean diesel vehicles sold this year eligible for federal tax credits," he said.
(DetroitNews)
Congress shouldn't stop with the clean vehicle credit. Congress should also add hybrids to the $25,000 small business tax deduction, which currently only applies to the worst gas guzzlers.
Tax incentives for clean vehicles, such as hybrid cars, are great legislation. Unfortunately, tax credits for hybrids are capped. Consequently, before the end of this year, Toyota hybrids will not qualify for the full tax credit.
At least for this year, that could change.
"The easiest way to promote fuel efficiency is to encourage drivers to purchase highly efficient hybrid or clean diesel vehicles," President Bush said in an address to the Renewable Fuels Association summit in Washington.
"If the automakers sell more than their limit, new purchasers are not eligible for the full tax credit.
"And so here's an idea that can get more of these vehicles on the road, and that is to have Congress make all hybrid and clean diesel vehicles sold this year eligible for federal tax credits," he said.
(DetroitNews)
Congress shouldn't stop with the clean vehicle credit. Congress should also add hybrids to the $25,000 small business tax deduction, which currently only applies to the worst gas guzzlers.
posted by Car Boys Media @ 9:43 AM
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