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Buy Cars – A message to Washington on the stimulus

Posted by TopOfTheThread on February 11, 2009

You want people to buy cars in this environment? This is what should be implemented by Washington today!

For the next 18 months…

  1. If you purchase a hybrid vehicle, your sales tax, interest, and principal is all deductible up to a cap of $30,000. Period. *** OR ***
  2. If you purchase a vehicle with rated MPG greater than 30 MPG, your sales tax, interest, and principal is all deductible up to a cap of $20,000. Period.
  • This incents people to purchase a vehicle.
  • This provided additional incentive to people to purchase a hybrid. Environmental Win.
  • This provides auto manufacturers incentive to creat high mpg vehicles and hybrids. This is better than strong-arming the auto manufacturers. If they want to be in business, they’ll do it.
  • The money lost from government revenue would be the same as if they subsidized some auto-related program.
  • Consumers who really need a car and are holding off, may decide to step up. It is too good to pass up.

Makes Sense. Simple. Right to the point. And No protectionism.

Please pass this around to people, your congress-people, and President Obama.



3 Responses to “Buy Cars – A message to Washington on the stimulus”

  1. Why don’t we have a incentive package that partners the real estate market and the auto industry??

    I’m a realtor in the Atlanta,GA area and many first time buyers are taking advantage of the first time home buyer tax credit. This credit was annoced as a $15K credit a few weeks ago and has since been reduced to $8K. In my opinion if the credit could be doubled if used towards a purchase of a new car it could have a huge impact on the economy. This way we would be helping out the real estate and automotive industry at the same time!

  2. James – I agree. I email’d the above idea to President Obama (no response, not even a form email thank you) and Steve Israel(canned formed email response with typos and incomplete fields). Oh well…

  3. Great idea. We need to incent people to buy — not just send them some money and have them tuck it away.

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