新车买家 Car Buyer Sales Tax Breaks in Obama Economic Stimulus Package

In addition to the working tax rebates and home owner tax credits, the President has approved a scaled back version of the Auto Assistance Ownership amendment in the final economic stimulus package. This ammendment provides tax breaks for new car buyers by giving them a federal-income-tax deduction on local sales and excise taxes, but not on the interest on loans, as was originally proposed. It is applicable to any new car purchased after the stimulus bill is signed into law (the original Senate proposal of Nov. 12 was dropped) to December 31 2009. It is expected that the final version of the bill will will be signed next week.