Amazon Prime Day 2024

Hybrid tax credits: Remove the cap?

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]

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