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!!!).
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??
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.
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".
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! eace:
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
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...
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).
It's not going to happen, cut taxes- what are you thinking? We are in a free fall right now and it will take a new president and congress to make changes. I must be dreaming, it won't happen.
Mr Reid is part of the problem and not the solution. There is no incentive for these politicians to help anyone but themselves. After all they have there own system or retirement, medical care, and of course give themselves huge wage increases plus vacation to excess when there is the peoples business still to do. I would not of lasted a day at my job if I acted like these pompous people who consider themselves aristocrats and we just mere peasants. With that said I love this country dearly and although it is not perfect it is the best.
