Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Can someone explain to me about the "energy bill?"

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
 
question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 10:11 AM
Original message
Can someone explain to me about the "energy bill?"
Did not follow the details and, I understand, neither did law makers who signed it but.... seems that it would give some tax breaks for diesel powered car because it provides more miles for the gallon.

If this is the goal, why not add additional taxes for the SUVs and other gas guzzlers? I think that many SUV owners can actually get a tax break - don't remember exactly how... if used for "business?"
Printer Friendly | Permalink |  | Top
punpirate Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 10:23 AM
Response to Original message
1. The big-ticket tax break is separate...
... from the recent energy bill.

The 100% subsidy of 6000+ lb. GVW vehicles used for business was in a different, earlier bill.

The latest energy bill offers some credits for any vehicle which shows a 25% increase in mileage, not just hybrids, so there may be some credits available for diesels with improved economy. But, those credits are available during a fairly narrow window, I think--from 2007 through 2009 or so.

I agree, it's stupid to be offering tax subsidies for gas-wasters, but, then, this Congress seems to excel at stupidity. It's one of the things they do best.
Printer Friendly | Permalink |  | Top
 
question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 10:50 AM
Response to Reply #1
3. Thanks. Yes, I've realized that there are two separate bills
but, as you say, members of Congress rarely operate in a reasonable manner. Why bother about real issues when one can talk about steroids?

Printer Friendly | Permalink |  | Top
 
Burried News Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 10:43 AM
Response to Original message
2. Vehicles over 6000 pounds qualify for tax breaks. Example
If a Dr. buys a Hummer and uses it for business there is a tax break.
The original intent supposedly was to give truckers a break - we report you decide.:)

There is a thread at dailykos on the energy bill. One poster listed the provisions (over a dozen I believe).
One little talked about provision favors banks and wall street firms- it allows them to form energy holding companies so we can do Enron all over again.
Bank of America mentioned that they were doing so a few months ago.
Printer Friendly | Permalink |  | Top
 
question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 10:52 AM
Response to Reply #2
4. Thanks, this is really stupid
Business owners already can deduct the cost of vehicles, so why do they need extra goodies?

I wonder whether there could have been additional characterization to really limit it to trucks as... number of axles? (don't know much about automobiles, as long as my 7-yr Camry takes me from point A to point B in a reliable manner)
Printer Friendly | Permalink |  | Top
 
wli Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-10-05 02:59 PM
Response to Original message
5. basically a Halliburton kickback with little other content
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Oct 31st 2024, 06:23 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC