Senate seeks to double eligibility for plug-in tax credits
Does this stimulate today's economy?There is a proposal in the Senate to increase the amount of vehicles that can qualify for the plug-in tax credit from 250,000 to 500,000 vehicles. For vehicles that have a battery pack of at least 4 kWh's in size, a tax credit of $2500 to $7500 will be available for the first 250,000 vehicles. Under the new proposal, the first 500,000 vehicles would be eligible.
While I support the proposal, does this really stimulate the economy today, which is what I thought was the focus of this stimulus bill?
Labels: plug-in hybrid vehicles, tax credits
posted by Dahcredyns at
11:35 AM
4 Comments:
After getting screwed out of any tax credit by the AMT after buying our 2006 Prius, I doubt there's any meat to this. The $3000 credit was a major factor in the timing of our purchase almost three years ago. When it came down to it, we didn't even get a deduction.
Tax rebate games are bull. Just put a simple federal gas tax in place and don't complicate the issue with a credit that will never materialize for most people.
BTW, is H&R Block a major lobbying company, or what? Why not tax the sin rather than complicating tax code with credits and loopholes, thus justifying an unnecessary industry?
I don't know if its H&R, or the big corporations that use tax code to loophole their way out of paying taxes, but the tax code is completely out of control.
Speaking of tax credit, it looks like there is still a tax credit for Ford hybrids, but it starts decrease this March:
http://www.autobloggreen.com/2009/01/28/2010-ford-fusion-hybrid-qualifies-for-3-400-tax-credit/
"If you want to benefit from the full tax credit, we'd advise you to act quickly. As buyers of Toyota and Honda hybrids have already found out, once an automaker has sold 60,000 hybrid units, the tax credit is slowly phased out. Ford reached its total allotment late last year, so you've got until the end of March before the credit is halved."
Nope. No plug-in cars available today or even next year at this time. Worthless.
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