Tax breaks on the road
Under the bill, American car buyers are also eligible for a number of tax breaks.
By purchasing a hybrid or diesel car after Jan. 1, 2006, consumers can get a tax credit anywhere from $500 to $3,400 dollars, depending on the fuel efficiency of the car.
The tax credit for a Toyota Prius, for example, would range anywhere from $2,500 to $3,000, according to Toyota.
I think this is just an extension of the existing tax credits that are in place.
While the bill rewards owners of hydrogen and electric cars as much as $8,000 in tax credits, the number of vehicles owned by American consumers that are powered by alternative fuels are negligible.
I don't understand what this is. The paragraph above says $2500 to $3000 for the Prius. What hybrid is the $8K for? I thought Prius was about the best for a hybrid in terms of gas mileage saved.
Some energy conservation advocates note that while the legislation advances some important changes, the new bill does little to curb one of the nation's biggest energy problems - U.S. reliance on oil.
Unfortunately, I think the paragraph above is true. This bill doesn't go nearly far enough to curb the American oil appetite. But I will take whatever we can get under this administration.
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