OPED: Why Are We Subsidizing Luxury Instead of Efficiency?
Federal incentives to promote purchase of efficient, mainstream vehicles are flawed. It's no surprise they are losing traction in accomplishing their goal of reducing oil consumption. The giveaways should either be reformed or dropped.
Like many laws that come out of Congress, the tax credits for buying a gas-saving hybrid or electric car are complex to the point they defy common sense. While one might think the goal would be to reward efficiency, the tax break instead rewards new models employing politically approved technology, whether they are efficient or not and whether they are affordable or not.
In a year in which sales of passenger vehicles jumped 11 percent, sales of gas-electric hybrids fell 8 percent. Truck sales last year were up nearly 15 percent, and SUV sales were up more than 21 percent.
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