Legislation Would Increase Tax Credits on Hybrids

The first step in bailing out the US car makers? <_<

 

Well if they're going to do it, it's nice that they're going to prod them by giving them incentives for clean technologies instead of the same old gas guzzlers...

Anything is better than a handout.

 

Yea, I guess so. I have difficulty with the idea of bailouts and subsidies, though I know some may actually benefit the overall economy.

I really want Ford and GM to succeed. They just need to somehow get their act together. Maybe nudging them into making better marketing decisions by tax incentives is the way to go. Arg, who knows? :blink:

 

Was this a misprint, or am I not getting something? Why would this be called "American Hybrid Tax Credit Act of 2005" since it's already 2006?

 

I agree - this may not hold up under WTO scrutiny. Why focus on American manufactured cars only? Is the idea to save energy or jobs?

 

Won't the Toyota Camry hybrid be "assembled" in the U.S.?

 

So will a flex-fuel vehicle that may never see anything but petrol it's entire life, get 20 mpg and have dirty emissions be eligible ?

 

From what I understand, it's not just for American auto manufacturors. It's for hybrid vehicles assembled in the U.S., which will include the Camry and the Altima. I read about this the other day on this hybrid incentives site, which provides up to date information on incentives (such as free parking, tax incentives, etc.) for the U.S. and state by state. It's a good site:

http://go.ucsusa.org/hybridcenter/incentives.cfm

Here's the info from this site:
Domestic hybrid extended tax credit (bill): Congressman Rahm Emanuel (D-IL) has introduced H.R. 4458, the 'American Hybrid Tax Credit Act of 2005.' The bill would give an additional $3,000 tax credit over and above the currently enacted federal tax credits for "a new qualified hybrid motor vehicle which is assembled in the United States." The total tax credit would be capped at $6,000. This would currently apply to the Ford Escape Hybrid and Mercury Mariner. Models expected to be released in 2006 that would qualify for this extended credit would be the Toyota Camry Hybrid (built in Kentucky) and the Nissan Altima Hybrid (built in Tennessee). Referred to the Ways and Means Committee 12/7/05.

I also learned there that some members of congress are proposing to lift the 60,000 limit on tax credits.