• Mar 5, 2006
Senate Finance Committee chairman Chuck Grassley, R-Iowa, and Sen. Max Baucus, D-Montana, have submitted a bill that would give tax deductions available for large SUVs (those weighing more than three tons) used by businesses to those companies using hybrid vehicles in their fleets. The bill adds up to an additional $25,000 deduction to already existing $100,000 available deductions for hybrid and alternative fuel vehicles. Finally, all owners of hybrid vehicles get up to $3,150 in tax credit as well.
More details at the link.

[Source: Associated Press via Monterey Herald]


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    • 1 Second Ago
  • 7 Comments
      • 8 Years Ago
      Good idea Federal Government! Give a taxbreak to buy foriegn products. The next brainstorm would be to charge higher taxes on Domestic vehicles. That should solve all of our economic and employment problems. Each and every politician who voted for this should be ashamed of themselves. They must be getting kickbacks from Toyota. That would be the only sane reason I could ever imagine for doing something so moronic.
      • 8 Years Ago
      It's a good idea to encourage consumer demand for Hybrid vehicles. Demand is the only way to create additional vehicles in the marketplace, leading to more innovation from the auto manufacturers. Foreign or Domestic manufacturer bashing aside, this is good for us as a country and our future.
      • 8 Years Ago
      RE: "Tax laws should NOT be written for the purpose of social engineering."

      Ha, that was a good one! You almost made me spit hot coffee all over monitor when I saw that one. That's pretty good sarcasm for first thing on a Monday morning.
      • 8 Years Ago
      so i guess toyota is the only company that makes hybrids right?
      • 8 Years Ago
      Congress is trying to promote energy conservation. It is in our national interest to promote energy conservation along with alternative sources of energy.
      • 8 Years Ago
      Tax laws should be written to provide money in the fairest way from the broadest base and at the lowest marginal tax rates to run the government.

      Tax laws should NOT be written for the purpose of social engineering.

      So called "tax breaks" pander to special interests instead of considering largest, meaningful special interest group of all: TAXPAYERS!
      • 8 Years Ago
      "RE: "Tax laws should NOT be written for the purpose of social engineering."

      Ha, that was a good one! You almost made me spit hot coffee all over monitor when I saw that one. That's pretty good sarcasm for first thing on a Monday morning."
      -------------------------------------------
      Glad you restrained yourself and didn't spew coffee on your monitor--just think of what your keyboard would look like if you'd lost it.

      But think about it: should bureaucrats create a tax code that tries to micormanage people's behavior when the main purpose is to raise money to pay for government services and transfer payments?

      Are long lists of taxed behaviors and tax credits good for us? If you think so, then your taxes aren't complicated enough--or you're a tax accountant and enjoy the work that the tax code provides for you.