Alternative Minimum Tax Could Wipe Out Hybrid Tax Credit

Anyone subject to the Alternative Minium Tax, which can include better-off, environmentally-friendly taxpayers, will get find their AMT will increase by the amount of the hybrid tax credit.

Published: 18-Jan-2006

It's nice to see that Washington is doing something to encourage the use of energy-saving hybrid engines in cars. Too bad it's the wrong thing.

Treasury Secretary John Snow dragged his entourage all the way to Detroit last Friday to proudly announce a tax credit for buyers of cars with hybrid gasoline/electric engines.

In fact, the credits were part of an energy bill signed last summer — when gasoline was selling well under $2 a gallon.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

Playing catch-up a decade late, the world's auto giants now find that they have to lease or buy technology from Toyota.

Spc. Jeffrey Hamme and Staff Sgt. Michelangelo Merksamer of HHC, 1/506th Infantry, point out features of the Hybrid Electric Humvee at the AUSA Annual Meeting earlier this month. The two Soldiers participated in a Military Utility Assessment of the prototype vehicle last month at Fort Campbell, Ky.

Ford's 'Hybrid Patrol,' a 10-city initiative this fall that aims to show hybrid drivers how to drive for best fuel economy. EV World photo of Bill and Lisa Hammond on way to first Ford Patrol event in Detroit during stop-over in Omaha.

READER COMMENTS

blog comments powered by Disqus