- Apr 26, 2006
Bush wants to lift cap on hybrid tax credits
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]