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Old 07-29-2005, 05:44 PM
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team_venture team_venture is offline
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Real Name: Frederick Boughter
Location: South Jersey
Hybrids: 2006 Escape FWD
Posts: 60
Default Re: New Energy Bill: Tax Credits for Hybrids

Quote:
Originally Posted by Romir

$2,100 for the Prius.
(60mpg city is 210% better mpg than the city 28.8 mpg it's rated against and worth $1600. This works out to 2166 gallons saved over a 120,000 mile vehicle lifetime, which is worth $500.)
Even better.... From money.cnn.com, Toyota says Prius would be in the range of $2,500 to $3,000. Effective January 1, 2006...

Geez... I like Bilbo's calculations for the FWD FEH.... so should I wait until next year to get one??? Sheesh...

Fred
<<<<<
Tax breaks on the road Under the bill, American car buyers are also eligible for a number of tax breaks.

By purchasing a hybrid or diesel car after Jan. 1, 2006, consumers can get a tax credit anywhere from $500 to $3,400 dollars, depending on the fuel efficiency of the car.

The tax credit for a Toyota Prius, for example, would range anywhere from $2,500 to $3,000, according to Toyota.

While the bill rewards owners of hydrogen and electric cars as much as $8,000 in tax credits, the number of vehicles owned by American consumers that are powered by alternative fuels are negligible.

Some energy conservation advocates note that while the legislation advances some important changes, the new bill does little to curb one of the nation's biggest energy problems - U.S. reliance on oil.

"The bill passed by the House and Senate will increase the use of energy efficiency technologies to extend our nation's energy supplies," Kateri Callahan, the president of the Alliance to Save Energy President, said in a statement. "But, the bill falls far short of making energy efficiency a cornerstone of U.S. energy policy. Most alarming is the bill's failure to curtail our growing and dangerous oil addiction in the transportation sector, which accounts for two-thirds of total U.S. oil use."

The bill's final version did not include other energy saving recommendations such as the Senate's recommendation that the federal government find ways of trimming oil demand and improving fuel efficiency on gas-guzzling cars.>>>>

Last edited by team_venture; 07-29-2005 at 05:50 PM. Reason: typo
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