Future Federal Tax Credits

[greenlv]

Does anyone know if Congress is planning to extend and/or add to the hybrid tax credit program this year? Since I live in a state without local income tax, my only option is a Federal program. Unfortunately I'm about a year too late (not that it would have made a difference to me as I love the car!!!).

[NYPrius1]

Adam,
I don't know the answer BUT I hope so as it would encourage more people to buy. NOTICE Congress did not forget tax credits to BIG OIL??

[Jiipa]

I think a future tax credit is just as possible as an additional tax for hybrid/EV vehicles to make up for the lost dollars in petroleum taxes. Both are possible but neither is probable.

[JimN]

Originally Posted by greenlv

Does anyone know if Congress is planning to extend and/or add to the hybrid tax credit program this year? Since I live in a state without local income tax, my only option is a Federal program. Unfortunately I'm about a year too late (not that it would have made a difference to me as I love the car!!!).

I doubt it. If you want a tax credit buy something from anyone but Toyota. Sooner or later Congress is going to have to raise taxes to cover the deficit and fund a war. It's election year. Start telling your representatives and three presidential candidates what you want or start voting for "the other guy".

[root4wings]

JimN --

Please do not forget that Ron Paul is still a presidential candidate. So, there are at least 4 in the race and not just 3!

[t408]

Originally Posted by root4wings

JimN --

Please do not forget that Ron Paul is still a presidential candidate. So, there are at least 4 in the race and not just 3!

Ron who?

[greenlv]

I thought some of you might be interested in a reply I just received from my United States Senator (Harry Reid) regarding future tax incentives for Hybrid vehicles:


Thank you for contacting me about federal incentives for advanced technology vehicles. I appreciate hearing from you.

As you may know, the Energy Policy Act of 2005 (P.L. 109-58) established tax credits for advanced technology vehicles, which could be worth as much as $4,000 depending on the vehicle. These credits were limited for each vehicle manufacturer, currently only Toyota and Honda have sold the 60,000 vehicles needed to trigger a phase out of the credit. Other manufactures have yet to meet this mark. I have noted your support for expanding and extending tax credits for hybrid vehicles. I have supported legislation in the last Congress and this one to expand and extend those credits, but these efforts have been met with resistance by the White House and the minority party here in the Senate. Please be assured that I will keep your thoughts in mind as I work to decrease America's dependence on oil.

Again, thank you for taking the time to share your thoughts with me. For more information about my work for Nevada, my role in the United States Senate Leadership, or to subscribe to regular e-mail updates on the issues that interest you, please visit my Web site at http://reid.senate.gov. I look forward to hearing from you in the near future.

My best wishes to you.

Sincerely,

HARRY REID
United States Senator
Nevada

[bac]

Originally Posted by greenlv

Thank you for contacting me about federal incentives for advanced technology vehicles. I appreciate ....

Reader's Digest Version = suck it

... Brad

[OZ132]

And Carmax says the 2007's are worth MORE than what they cost new.
Search results at carmax.com
Guess I missed the boat. Too late to buy a Prius. A chevy is looking better and better...

[eagsc7]

Congradulations Mr Reid. You actually sound like you might be able to bring an expansion to the Tax Credit for less poluting vehicles. While your at it, lets get rid of the credits given to oil companies, and put that added revenue directly in the hands of people that are willing to embrace Green Energy(Solar, Wind, and Water).