Charley makes good points - as usual. And here�s a short article concerning Bush�s environmental legacy. This exposes a little part of the tax cut that hardly anyone has heard about -- -- Welcome To The Crzy House

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Date Posted: 09:49:23 05/24/03 Sat
Author: Dano
Subject: Charley makes good points - as usual. And here�s a short article concerning Bush�s environmental legacy. This exposes a little part of the tax cut that hardly anyone has heard about --
In reply to: Drew Greyfox 's message, "Charley Reese: The Mists of Falsehoods" on 23:36:40 05/23/03 Fri

THROUGH THE LOOKING GLASS
Congress Clears Tax Incentive for SUV Purchases
By REUTERS
Filed at 7:08 p.m. ET

WASHINGTON (Reuters) - Congress on Friday substantially widened a tax break that has been used by small businesses as an incentive to purchase the largest sport utility vehicles and pickup trucks.

Supporters including President Bush said the business equipment tax break, which was quadrupled to $100,000 in the $350 billion tax cut bill that narrowly cleared Congress, is good for the economy.

But critics called it a loophole that unfairly benefits the auto industry and provides an unnecessary perk to business people who do not need, but want to buy the largest, most-polluting and fuel hungry SUVs.

``People will now do it because they are economically rational enough to go for the tax break,'' said David Nemtzow, president of the Alliance to Save Energy.

And legislators from some cash-strapped states with environmental concerns say they will close the loophole by disallowing it at the state level and charging back much of the deduction on state tax forms.

I should add that the line �Through the Looking Glass� in the headline is not from Reuters. It was the headline at BuzzFlash - an admittedly liberal website.

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