Closing The 'Hummer Tax Loophole'

Members of Congress seek to close a loophole that enabled those buy gas-guzzling SUVs to claim a tax deduction of up to $25,000. Auto makers and dealers oppose the idea calling it a "tax increase".

"Business owners who purchase heavy luxury SUVs, those weighing over 6,000 pounds, get to take deductions up to $25,000...Now some members of Congress are pushing to close the so-called Hummer Tax Loophole. Led by Rep. Earl Blumenauer [who] said that the new bill includes provisions for legitimate business use by exempting farm vehicles, vans, flatbed trucks and school buses from the closure of the loophole. He predicts that the provision will give back to the government about $750 million over five years, which will be used to promote conservation and alternative energy."

Full Story: Buy a Hummer, Get a $25,000 Tax Break

Comments

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Women's t-shirt with map of Los Angeles

City T-Shirts for the ladies!

Women's Supersoft CityFabric© Fashion Fit Tees. Now available in six different cities.
$24.00

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00