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Posted: 04/27/06
03:03 AM
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President Wants Hybrid Cap Lifted
This week's White House initiative to lower gas prices could have a side benefit for hybrid vehicles. The Detroit News reports that President Bush wants the tax-credit cap lifted from hybrid vehicles. Currently, tax credits for the purchase of hybrids are only offered so long as no more than 60,000 hybrids per manufacturer are sold. The credits are worth up to $3400, and would initially benefit Toyota, which sells the most hybrids. The tax credits also apply to clean diesels. Hybrid sales are expected to top 750,000 by 2012.
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