1. Attachments are working again! Check out this thread for more details and to report any other bugs.

Congress Proposal to Lift the 60,000 cap & ...

Discussion in 'Gen 2 Prius Main Forum' started by Catskillguy, Apr 17, 2006.

  1. Catskillguy

    Catskillguy New Member

    Joined:
    Oct 1, 2005
    536
    0
    0
    Location:
    Mid Hudson Valley NY
    A couple of notes gleaned from Hybridcenter.org



    Lifting the 60,000 cap on the hybrid tax credit (bill): Senators Evan Bayh (D-IN), Joe Lieberman (D-CT), and Sam Brownback (D-KS) have introduced a broad bill (S. 2025) that would remove the cap on hybrid tax credits as part of a package to reduce domestic oil usage. Representative Jack Kingston (R-SC) and Elliot Engle (D-NY) introduced a similar bill (H.R. 4409) in the House. Representative Chris Shays (R-CT) introduced a broad ranging energy bill (H.R. 4384) that in addition to several incentives for renewable energy and energy efficiency across all energy sectors would remove the cap on hybrid tax credits.

    AND

    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.
     
    #1 Catskillguy, Apr 17, 2006
  2. micheal

    micheal I feel pretty, oh so pretty.

    Joined:
    Apr 14, 2005
    842
    2
    0
    Location:
    Lubbock, TX
    Vehicle:
    2004 Prius
    Whoa, an additional $3k for those built in the US?!


    Makes me want to get on the list for a TCH! An approximately $5K tax credit will make that an even hotter seller IMO.
     
    #2 micheal, Apr 17, 2006
  3. naterprius

    naterprius Senior Member

    Joined:
    Mar 15, 2004
    1,843
    11
    0
    Location:
    USA
    Vehicle:
    Other Non-Hybrid
    Spectacular. But why is it "2005" instead of "2006"?

    Nate
     
    #3 naterprius, Apr 17, 2006
  4. dipper

    dipper Senior Member

    Joined:
    May 4, 2005
    1,242
    252
    0
    :lol:

    If both comes into law, watch everyone will cancel their order and wait for Jan 2007... Just like the Prius... <_<
     
    #4 dipper, Apr 17, 2006
  5. Clar

    Clar Member

    Joined:
    Mar 29, 2004
    151
    2
    0
    Location:
    DC/MD/VA
    the bills were introduced in late 2005. Don't know if it's dead or not.

    If camry hybrid gets $5k over all tax credit, i'm gonna get one right away!!!
     
    #5 Clar, Apr 17, 2006
  6. dipper

    dipper Senior Member

    Joined:
    May 4, 2005
    1,242
    252
    0
    <div class='quotetop'>QUOTE(Clar @ Apr 17 2006, 01:25 PM) [snapback]241053[/snapback]</div>
    Did a search... no new update since it was first introduced in 12/7/05. Looks like there might be some action because it is mid-term elections this fall. :D

    If both are passed, I am hoping for the rumor 08 Honda Fit hybrid. Since that new one will probably be built in US, it might qualify for all $6k. Imagine a $17k Fit hybrid costing me only $12k after all the credits and tax. B)

    That rumor Honda Fit hybrid is supposed to get a more powerful 1.0L engine and electric motor from the Insight.
     
    #6 dipper, Apr 17, 2006
(You must log in or sign up to post here.)