Under current law, people who drive SUVs can deduct $25,000 from their taxes after purchasing the vehicle. A new law proposed in the senate will increase that deduction to $100,000. So basically you can buy a hummer and write the whole thing off on your taxes. Meanwhile, the $2,000 deduction for driving a fuel-efficient gas-electric hybrid vehicle is going to go away.
SUV Drivers will get a tax cut
Posted in Politics