• Apr 26th 2006 at 8:53AM
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President George Bush believes lifting the current cap on tax credits for hybrids and advanced diesels is one step the government can take to deal with soaring gas prices.
The current tax credit scheme starts to phase out for a given brand of car once 60,000 vehicles are sold. Toyota's fast-selling hybrids will carry the automaker past the current cap by the middle of this year.

The cap has drawn criticism for being an effort to keep foreign automakers from reaping the lion's share of the sales benefits from the tax credit program, because their hybrid programs are considered more advanced than those of their U.S. competitors.

[Source: Automotive News]

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    • 1 Second Ago
      • 9 Years Ago
      It's a story sourced from http://www.autonews.com/, but it is a subscription site. (It's pretty lame, but if you see an article you want to read, just Google it, and you'll usually find it free somewhere).

      The story is on a statement Bush made that called for Congress to make all hybrid and clean diesel vehicles sold this year eligible for a full federal tax credit.
      • 9 Years Ago
      Yes, Autoblog is now a propaganda arm of the Bush Administration. Google is your friend, Kamil. If you can't read the article linked by Autoblog, you can read it at the Miami Herald.

      • 9 Years Ago
      To bad Bush & co. aren't pushing to extend the date for the new diesel regulations to take effect (2007 currently). We'll get ULSD by Fall, but won't have the cars to run it on until next year. None of the current ones meet the new emmisions standards, even with low sulfur diesel.

      If the new restrictions were eased, we could get some sweet euro diesels stateside. As it stands, there will be a several month 'pause' in the availability of vecs that use less fuel. Hopefully in those months, Big Auto will decide to bring passenger cars with diesel engines instead of monster freaking diesel trucks.
      • 9 Years Ago
      • 9 Years Ago
      Thank you.

      The word "propaganda" is harsh, misunderstood, and often used incorrectly, as it was here. I appologize.

      I just wanted to know the origins of the story. I'm also trying to understand the politics of it, and who in the end would benefit from it.
      • 9 Years Ago
      It's a free-registration-required article on the front page of this website: http://www.autonews.com/apps/pbcs.dll/frontpage?ws=uf
      • 9 Years Ago
      How about a tax rebate for public transportation costs. That may actually help alieviate the demand problem in this country better than hybrid vehicles.
      • 9 Years Ago
      Sounds like a lot of posturing.

      How about government subsidies to actually help soaring gas prices rather than giving tax credit to a small percentage of the driving population? Sure, trying to influence people with a cute pittance to buy new cars is nice, but it doesn't help the rest of us who can't afford to buy a new hybrid (and get on a 3 month wait list for said hybrid).

      Bush is trying to influence people by waving money in front of their faces while at the same time encouraging them to spend more money. But what else is new?
      • 9 Years Ago
      Not that any of it really helps with gas prices. But would we really expect an oil-man administration to do anything that would ACTUALLY bring them down?
      Funny how the spike dovetails with the increasing rhetoric on Iran...
      • 9 Years Ago
      No, that just tells me about the tax credits.
      I want to know where the "Bush wants to lift cap on hybrid tax credits" line cames from.
      "Source: Automotive News" does not do it for me.
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