Thursday, July 20, 2006

Are more tax breaks on the way for hybrid car buyers?

Congress is holding a hearing today on hybrid technology. The House subcommittee on energy and resources is looking at ways to entice more drivers to purchase hybrid cars. They are also going to look into why the US automakers are lagging behind their foreign counterparts when it comes to hybrid technology.

Some state incentives include:
  • Colorado offers up to a $4,713 tax credit for purchasing a hybrid vehicle.
  • Maine gives owners a sales tax credit of up to $500 for hybrid purchases.
  • Maryland and Washington state exempt hybrids from motor vehicle emissions testing.
  • In Baltimore, owners get discounts at city-owned parking garages.
  • Pennsylvania drivers can get a $500 rebate from the state for buying a hybrid or alternative-fuel vehicle.


    • Source:Owning a hybrid vehicle could pay off - 07/20/06 - The Detroit News Online
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    2 comments:

    1. Anonymous12:35 PM

      Instead of creating more and screwier methods of getting people to buy hybrids, they should lift the 50,000 per-model limit for the benefits? I'm sorry if the American car companies do not make as many hybrids, but they made a choice to skip over the technology for all those years.

      ReplyDelete
    2. Unknown2:17 PM

      I'm of a slightly different opinion. I know it was designed to protect the US automakers, but I doubt that it will. What is more likely to happen (in my opinion) is Toyota will start dropping their premiums or just offer better deals in order to compete against that impression of savings.

      Since one of the biggest deterrents to possible hybrid consumers is that premium price, I think more hybrids will be sold because of this.

      ReplyDelete

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