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Article: Buy a new car, get a tax break
- Article from:
- Telegraph - Herald (Dubuque)
- Article date:
- February 14, 2009
- Author:
CopyrightCopyright 2009 Telegraph - Herald (Dubuque). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON (AP) - Consumers are expected to receive a tax break
for the purchase of a new car, motorcycle or motorhome this year but
it may not have much impact on the steep decline in sales.The $787
billion economic stimulus, which Congress was considering Friday,
would give consumers a state sales tax and excise tax deduction on
new cars purchased before the end of 2009. Many new car buyers could
see savings of hundreds of dollars in next year's tax filing.The
incentives, worth $1.68 billion, were designed to boost auto sales
and increase traffic in dealer showrooms during a dark period for
the industry. General Motors Corp. and Chrysler LLC are living off
of billions of dollars in ...