Proposed Bill to give New car buyers tax break

[mmarcum]

That's the one thing i hate about living in Tennessee. 9.5% tax on the first $3500 (roughly) and 7% on the rest. :/

[Mr_Draco]

Originally Posted by TAG UR IT

Here's an idea on stimulating the economy....


How bout the gov't just give us ALL a tax break on the full purchase price amount! Now THERE is an idea!

I would much rather have $7,500 cash back on the car. A tax break for me on $38,000 would only get me $3,800 back. Plus if you can only get a break up to like 5% of what you make a year if I'm not mistaken.

And a measly $7,500 deductible is crap. That means that for most people it will either increase the amount you get back come tax time by either $750 or $1,100. The only people this will convince to go buy a car who wasn't originally going to are those who think that they will get $7,500 back.

[DGthe3]

ND Lawmakers Want Tax Break for Ford, Chrysler, GM

Bismarck, N.D. (AP) North Dakota may be offering Detroit its own bailout.

A group of six North Dakota lawmakers has introduced legislation to exempt new Ford, Chrysler and General Motors vehicles from North Dakota's sales tax and motor vehicle excise tax.

The tax break would apply until June 30, 2010, to buyers of any new vehicles made by those companies. New vehicle leases would also get the tax break.

North Dakota normally charges a 5 percent tax on motor vehicle sales and leases.

Minot Rep. Lisa Wolf is the principal sponsor of the bill. Its first hearing in the North Dakota House has not been scheduled.

The bill is HB1539.

[jesserayjames]

I tell you what, that would help me a lot.

[Mr. Wyndham]

Originally Posted by DGthe3

ND Lawmakers Want Tax Break for Ford, Chrysler, GM

That's what I like to hear!

[diddiyo]

Let's see if non-big3-dealers in ND will lay off more people because they're not getting any help from this. imo you have to think beyond the whole "foreign cars"-thing.

[Mr. Wyndham]

Originally Posted by diddiyo

Let's see if non-big3-dealers in ND will lay off more people because they're not getting any help from this. imo you have to think beyond the whole "foreign cars"-thing.

Nope. Never.

It won't hurt import dealerships any more than they are now. It'll simply be an incentive to buy domestic instead. Good.

[DGthe3]

Originally Posted by diddiyo

Let's see if non-big3-dealers in ND will lay off more people because they're not getting any help from this. imo you have to think beyond the whole "foreign cars"-thing.

Its not as if they have said that there will be an extra 5% sales tax on foreign cars. And keep in mind that the majority of cars sold are still made by the big 3. I don't recall where I hard this, but it works out that for every job that a foreign automaker generates in North America there are 2 jobs that it steals from the big 3. So while Tennessee and Alabama get a bit of help from 'transplants', it takes more jobs away from Michigan and Ohio. And yes, every large automaker has parts made over here and have their dealer and service networks, the fact remains that the domestic automakers have more. In the end, supporting domestic companies, not just automakers but all industries, helps the domestic economy more.