In 2005, Congress and the IRS enacted significant tax credits for the purchase of fuel-efficient hybrid vehicles. Due to the formulation put into place by the GOP Congress, these credits begin to expire when the number of qualifying vehicles sold by a manufacturer reaches just 60,000. Consequently, many of these tax credits are expiring on October 1, 2007.
Link: http://www.irs.gov/...
One could easily make the case that these tax credits were implemented to enable Exxon-enslaved Republicans (and some Dems too) to say they're taking serious action to improve overall fuel efficiency in the US when they're really just playing politics with energy and the environment.
I test drove a Toyota Prius this weekend and, to my surprise, found it to be a very cool, functional, and attractive vehicle. As you can see from the IRS page linked above, the initial tax credit of $3,150 has already dropped to $1,575..and will drop to zero after October 31 of this year.
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