It's about time Congress got serious about changing this:
New tax breaks are available to anyone who wants to help the environment by purchasing fuel-efficient hybrid vehicles. But if owners of small businesses really want to save money, they can get even bigger federal tax breaks by buying the largest gas-guzzling SUVs.
The disparity is drawing criticism from environmentalists and the Republican chairman of the Senate's tax-writing committee, who is working on a change.
Federal tax rules that took effect last month allow a credit of up to $3,150 for anyone buying a hybrid car…
However, owners of small businesses who buy a Hummer, Ford Excursion or other SUV weighing more than 3 tons get a deduction of up to $25,000...
[Baltimore Sun...]
Here is a list of Senate Finance Committee members in case you want to email them some encouragement ("I urge you to support Chairman Grassley's changes to the tax incentives available for SUVs...")
Say what now? That is the craziest thing I have heard today. We were talking about special interest money on my blog... I wonder if that has anything to do with these absurd tax breaks for SUV owners?
ReplyDeleteWho knows.
Done and done - one of my Senators, John Kerry, is on that committee.
ReplyDeleteHe's also cosponsoring S. 1294 that I mentioned below.
WF
Done and done - one of my Senators, John Kerry, is on that committee.
ReplyDeleteHe's also cosponsoring S. 1294 that I mentioned below.
WF
Not sure why that posted twice.
ReplyDeleteWF
That is pretty funny that you referred to a comment below and then it reposted your comment below, though!
ReplyDelete