President Bush called on Congress to remove the cap on tax credits for hybrid sales. Only 60,000 vehicles per
manufacturer each year can receive the tax credit up to $3,400, a problem only Toyota Motor Company is facing, since it
sells more than 60,000 vehicles. President Bush urges that removal of the cap will get more fuel saving vehicles on the
road, reducing our “addiction to oil”. The man talks like someone that has been in a 12-step program of
some sort. While I applaud any effort to increase fuel efficient cars on the roads, do we really need a tax incentive
for a Lexus RX400h? Maybe a tax break to guide consumers to more fuel efficient vehicles, regardless of technology,
could provide a larger benefit.
[Source: The Detroit News]