 |
Monday, May 19, 2003
SUV tax cut
Today might be a good day to buy a new car. Perhaps one of those sporty red ones, just something to zip around town on a few gallons of gasoline.
Nah. Forget the little Cooper. Think big. Ogle a truck, an SUV, even a Hummer II.
How much would that vehicle cost? Say, up to $100,000.
But the price doesn't matter as much because if you buy the right vehicle -- a truck or SUV weighing at least 6,000 pounds -- the federal government will make it affordable.
Under current tax law, it's permissible to write off $25,000 from your taxes in the first year after the purchase of a 6,000-pound truck or SUV. (Then there's the gravy of 20 percent a year after that.)
But the Senate bill increases the tax deduction to $100,000.
Who did it? We don't even know, yet. There are no fingerprints on the amendment -- legislation was going back and forth so fast Thursday night that this little gem slipped in quietly.
Fortunately this bill is not law yet -- but the House version has a similar proposal.
But don't worry too much. Congress isn't finished yet. Lawmakers are also crafting a new energy bill -- and one proposal calls for the elimination of a $2,000 tax deduction for fuel-efficient gas-electric hybrid vehicles.
Hybrids don't have the same truck as a Hummer II.
My web site
My Yahoo!
Google
· Trust me or fool me again?
· Sunday Shorts
· Primary care shortage undermines the health of everyone in the U.S.
· Republicans seek salvation from nemesis McCain
· Corn-fed chickens losing out to corn-fed cars
· Democracy funding for Iraq under more scrutiny
· Trade in Olympic memorabilia picks up speed
· Out of the pantheon and into the fire
· Clinton not entitled to veep spot
· Obama admires President Bush (the first one)
· Another boost for Obama, and a big one at that
· Baby fashion goes too far
more· Weekend edition: FISA, UW tuition and Reader comments about Sales Taxes
· **Afternoon Snark; Draft of Sales tax editorial, Seattle City Light, President on Middle East; Reader comments
· Afternoon Snark: Polar Bears; Earthquake followup; Draft editorial McCain on global warming; border arrest
101 Elliott Ave. W.
Seattle, WA 98119
(206) 448-8000
Home Delivery: (206) 464-2121 or (800) 542-0820
seattlepi.com serves about 1.7 million unique visitors
and 30 million page views each month.
Send comments to newmedia@seattlepi.com
Send investigative tips to iteam@seattlepi.com
©1996-2008 Seattle Post-Intelligencer
Terms of Use/Privacy Policy
