Hybrid Cars Save on Taxes and Gas

Federal tax break hybrid-electric vehicles is getting smaller and will disappear after 2006 unless Congress extends it

Published: 23-Jan-2004

You’re an environmentally conscious driver, but you want a vehicle with some extra space. You never know when you’ll need to transport a soccer team or small farm animal across town. Or perhaps you’re a green consumer who secretly craves a sports car.

Automakers are eager to help. At this year’s annual car show in Detroit, they unveiled snazzy new versions of energy-efficient vehicles. Their message: You don’t have to sacrifice size and sex appeal to save on gas.

You can also save on taxes. But the federal tax break for so-called hybrid vehicles is getting smaller and will disappear after 2006 unless Congress extends it.

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