Tag Archives: Tax Breaks

Senate Votes To Give New Car Buyer Tax Break

06crv13Hey Cool Car Fans,

Great news for new car buyers and automobile manufacturers.  The Senate has voted to give a tax break for new car buyers.  Of course, we won’t be seeing this put in effect for quite a few months, with the way Congress moves.  However, it’s always blue skies in Washington, so we’ll have to see what they come up with for helping out the average “Joe”.

ABC News is reporting that…

“The Senate voted Tuesday to give a tax break to new car buyers, setting aside bipartisan concerns over the size of an economic stimulus bill with a price tag edging above $900 billion.”

The report explains that the Senate is looking at giving a tax break to new car buyers and here is what they are proposing…

“Sen. Barbara Mikulski led the successful effort to allow many car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans.”

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Personally, I think this a great idea that should have been in place a long time ago because vehicles are a necessity for people today.  It’s not like millions of Americans can walk to work or ride their bike or horse and public transportation in America has proven to be an expensive joke.  

Unfortunately, I don’t like the idea of it being added to a $900 billion “stimulus” package to get it passed.  Think about it for a minute, “If you give us $900 billion in taxes, we’ll let you write off the taxes you’re going to pay when you buy a new car and write off the interest on the loan.”  Wow, what a deal!  I get to pay more in taxes to get a tax incentive.  You have to love the way our politicians think.  Oh, that’s right, guy’s like Tom Daschle don’t pay taxes, so what do they care?

Anyway, be on the lookout for this new “perk” to come to a new car dealership near you.  If you need a new or “used” vehicle (you will still save more money buying a used vehicle), give me a callor send me an email.



John Boyd

Auto Consultant – John Boyd: The Cool Car Guy

John is an auto consultant with JFR & Associates in Denver, Colorado. He can help you save time and money on any make or model, new or used, lease or purchase – nationwide! Call or email John about your next vehicle!  jboyd@coolcarguy.com

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