Senator calls for tax incentives on all new-car sales
Senator Barbara Mikulski of Maryland thinks that the economic panic can be partially abated by allowing buyers of new vehicles to deduct auto loan interest, fees, and sales tax related to the purchase of a new car from their income tax. The proposed initiative would run from now through the end of 2009, and is only for families earning less than $250,000, or individuals making $125,000. Hey, nobody is really going to complain about getting a tax break, but it seems that buyers have already shown that they're wary, even with fantastic deals to be had.
[Source: Kicking Tires]
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