Complain about a product or service

Bush Proposes Lifting Hybrid Tax Credit Limit

April 25, 2006

• Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

President Bush says Congress ought to eliminate the limit on the number of hybrid vehicles produced by an automaker that qualify for current tax credits.

The credits took effect this year and are as much as $3,400 per vehicle. Once an automaker sells 60,000 eligible vehicles, however, the credits are phased out.

Toyota would be the big winner if the law was to be changed. The Prius will reach the tax credit ceiling by the middle of this year.

Bush offered the proposal in a speech to the Renewable Fuels Association, which represents producers of ethanol.

Some auto industry analysts suggest the tax credit cap is an effort by domestic automakers to keep all the benefits of the tax credits from going to Honda and Toyota customers. Toyota is the acknowledged leader in hybrid production.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Back to the top |