Hybrid vehicles to gain same tax deductions as large SUVs

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.
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[Source: Associated Press via Monterey Herald]

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