A couple of notes gleaned from Hybridcenter.org Lifting the 60,000 cap on the hybrid tax credit (bill): Senators Evan Bayh (D-IN), Joe Lieberman (D-CT), and Sam Brownback (D-KS) have introduced a broad bill (S. 2025) that would remove the cap on hybrid tax credits as part of a package to reduce domestic oil usage. Representative Jack Kingston (R-SC) and Elliot Engle (D-NY) introduced a similar bill (H.R. 4409) in the House. Representative Chris Shays (R-CT) introduced a broad ranging energy bill (H.R. 4384) that in addition to several incentives for renewable energy and energy efficiency across all energy sectors would remove the cap on hybrid tax credits. AND Domestic hybrid extended tax credit (bill): Congressman Rahm Emanuel (D-IL) has introduced H.R. 4458, the 'American Hybrid Tax Credit Act of 2005.' The bill would give an additional $3,000 tax credit over and above the currently enacted federal tax credits for "a new qualified hybrid motor vehicle which is assembled in the United States." The total tax credit would be capped at $6,000. This would currently apply to the Ford Escape Hybrid and Mercury Mariner. Models expected to be released in 2006 that would qualify for this extended credit would be the Toyota Camry Hybrid (built in Kentucky) and the Nissan Altima Hybrid (built in Tennessee). Referred to the Ways and Means Committee 12/7/05.
Whoa, an additional $3k for those built in the US?! Makes me want to get on the list for a TCH! An approximately $5K tax credit will make that an even hotter seller IMO.
:lol: If both comes into law, watch everyone will cancel their order and wait for Jan 2007... Just like the Prius... <_<
the bills were introduced in late 2005. Don't know if it's dead or not. If camry hybrid gets $5k over all tax credit, i'm gonna get one right away!!!
<div class='quotetop'>QUOTE(Clar @ Apr 17 2006, 01:25 PM) [snapback]241053[/snapback]</div> Did a search... no new update since it was first introduced in 12/7/05. Looks like there might be some action because it is mid-term elections this fall. If both are passed, I am hoping for the rumor 08 Honda Fit hybrid. Since that new one will probably be built in US, it might qualify for all $6k. Imagine a $17k Fit hybrid costing me only $12k after all the credits and tax. B) That rumor Honda Fit hybrid is supposed to get a more powerful 1.0L engine and electric motor from the Insight.
