While General Motors is busy making marketing hay from its early payoff of $5.8 billion in loans, Senator Chuck Grassley and House Representative Darrell Issa aren't buying it. "It looks like GM merely used one source of TARP funds to repay another," said Grassley of General Motors financial moves. Grassley has asked for justification of the creative money-shuffling from Treasury Secretary Timothy Geithner.
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