Boxer Introduces Legislation to Make Hybrid Cars More Affordable for America's Families

[The Straight Story]

Boxer Introduces Legislation to Make Hybrid Cars More Affordable for America's Families

Bill extends hybrid tax credit, eliminates manufacturer limit and raises maximum rebate

Monday, January 12, 2009

Washington, DC – U.S. Senator Barbara Boxer (D-CA) today introduced legislation to make hybrid cars more affordable for America’s families.

Boxer said, “Extending and expanding the hybrid tax credit will give Americans the opportunity to drive more fuel efficient vehicles, which put more dollars in their pockets and simultaneously help our environment by reducing our dependence on oil.”

Boxer’s bill would extend the current tax credit, which is set to expire in 2010, for two years through 2012. The legislation would also restructure the current tax credit by:

-- Eliminating the vehicle limit per manufacturer. Under the current rules, only an automaker’s first 60,000 hybrids sold were eligible to receive the tax credit. Due to this limit, consumers who purchased a Toyota Prius after October 2007 or a Honda hybrid after December 2008 were unable to receive the tax credit.

-- Increasing the maximum rebate from $3,400 to $4,000 to make hybrids more affordable. The credit, which varies by vehicle, is determined by a formula using fuel efficiency and lifetime fuel savings.

Boxer continued, “New technologies to finally end America’s addiction to oil, such as plug-in hybrids and alternative fuel vehicles are on the way, but it will take some time before they are affordable for most Americans. This bill helps get more consumers into hybrids today while we perfect the new technologies of the future.”

http://boxer.senate.gov/news/releases/record.cfm?id=306573

[jemsan]

1. Hope it's retroactive..

We purchased 3 Prius's last year. Me (my 2nd), my husband and daughter. That would really help with taxes!!

[ContinentalOp]

3. DOH! Damnit.

Me too. Well, not 3 Priuses, but 1. This damn well better be retroactive.

[Qutzupalotl]

6. Unfortunately, I doubt it will be.

Such things are meant as incentives for future purchases, and it's impossible to change the past.

[jpak]

2. K&R

:thumbsup:

[Lance_Boyle]

4. I want a tax credit for burning biodiesel

in my 50MPG Jetta. I bet a bunch of bike commuters would like tax credits for riding their bikes. Same for bus/subway commuters. And what about walkers? Can they get tax credits for their sensible shoes?

Where's Ms. Boxer on that? Nowhere?

This is both bullshit and a boondoggle. It's a bulldoggle.

[Ioo]

5. Right now car comps, "We can now charge $4000 more for these things"

the price will be the same for me and you, car companies will move the price to eat the fed money

[Rosa Luxemburg]

7. Hurrah!

that's a start

[Wilms]

8. Why just "America's Families".

How about other Americans?

OK, OK. Great idea. Love Boxer. Hate the poli-slang. Have so since @1980.